Uganda Business Confidence Hits 15-Month High

The Business Tendency Index in Uganda rose to 59.6 in August 2026 from an upwardly revised 56.1 in the previous month. This marked the highest reading since June 2025, as assessments improved for the present business situation (57.1 vs 52.5 in July), order volumes with suppliers (63.7 vs 59.4), current employment (53.5 vs 51.7), financial situation (53.9 vs 44.2), access to credit (42.2 vs 40.4), expected employment (55.3 vs 54.4), stock of finished products (45.8 vs 41.3), current demand for services (77.6 vs 70.3), and future demand for services (48.8 vs 44.5). Among sectors, confidence increased in manufacturing (54.2 vs 54), wholesale trade (55.9 vs 55.2), other services (64.7 vs 55.8), and financial services (80.9 vs 77.1). Conversely, sentiment weakened in construction (48.0 vs 48.7) and agriculture (56.6 vs 57.7).

The Business Tendency Index in Uganda dropped to 55.8 in April 2026 from an upwardly revised 58.0 in the previous month. This marked the lowest reading since January, amid declines in sub-indices for the present business situation (54.6 vs 56.2 in March), business conditions over the next three months (57.8 vs 60.2), and current employment (51.0 vs 51.1). On the other hand, improvements were seen in order volumes with suppliers (62.4 vs 60.1), financial conditions (52.8 vs 51.7), average selling prices (58.4 vs 56.8), access to credit (45.6 vs 45.5), expected employment (56.8 vs 55.8), and stocks of finished products (42.6 vs 36.1). Among sectors, confidence fell in manufacturing (53.9 vs 57.2) and other services (54.0 vs 59.9), while it increased in construction (44.6 vs 43.3), wholesale trade (52.7 vs 50.8), agriculture (61.0 vs 59.9), and financial services (83.5 vs 76.0).

The Business Tendency Index in Uganda dropped to 55 in January 2026 from a downwardly revised 56.4 in the previous month. This marked the lowest reading since September 2024, amid declines in sub-indices for present business situation (51.3 vs 53.1 in December), current employment (48.2 vs 50.3), financial situation (51.4 vs 53.1), access to credit (40.2 vs 42.7), and order books (52.9 vs 55.9). On the other hand, improvements were seen in business situation over the next three months (62.2 vs 60.7), order volumes with suppliers (61.5 vs 60.6), and expected employment (54.7 vs 54.5). Among sectors, confidence fell in construction (44.7 vs 47.8), manufacturing (56.8 vs 57.9), agriculture (53 vs 55.2), other services (57.2 vs 57.8), and financial services (70.1 vs 77.1), while increased in wholesale trade (52.3 vs 51.8).