Uganda Business Confidence Hits Over 3-Year Low

2026-11-05 12:02 By Erika Ordonez 1 min. read

Uganda’s Business Tendency Index fell to 53.5 in October 2026 from an upwardly revised 56.7 in September, its lowest reading since February 2023.

Assessments weakened across most indicators, including the present business situation (50.3 vs 53.7), supplier order volumes (53.9 vs 57.7), current employment (47.9 vs 51.9), expected employment (54.6 vs 57.3), sector competition (70.8 vs 72.4), financial situation (47.1 vs 52.6), access to credit (38.9 vs 41.2), and current and future demand for services (50.9 vs 56.8 and 65.5 vs 70.9, respectively).

The three-month business outlook also weakened (59.2 vs 62.3).

Meanwhile, average selling prices (66.4 vs 61.5), stocks of finished products (48.1 vs 47.9), and order books (46.5 vs 41.9) increased.

Across sectors, confidence declined in construction (39.8 vs 46.0), manufacturing (52.6 vs 53.1), wholesale trade (46.7 vs 49.2), financial services (77.7 vs 85.0), and other services (53.4 vs 59.7), while improving in agriculture (57.5 vs 56.4).



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Uganda Business Confidence Hits Over 3-Year Low
Uganda’s Business Tendency Index fell to 53.5 in October 2026 from an upwardly revised 56.7 in September, its lowest reading since February 2023. Assessments weakened across most indicators, including the present business situation (50.3 vs 53.7), supplier order volumes (53.9 vs 57.7), current employment (47.9 vs 51.9), expected employment (54.6 vs 57.3), sector competition (70.8 vs 72.4), financial situation (47.1 vs 52.6), access to credit (38.9 vs 41.2), and current and future demand for services (50.9 vs 56.8 and 65.5 vs 70.9, respectively). The three-month business outlook also weakened (59.2 vs 62.3). Meanwhile, average selling prices (66.4 vs 61.5), stocks of finished products (48.1 vs 47.9), and order books (46.5 vs 41.9) increased. Across sectors, confidence declined in construction (39.8 vs 46.0), manufacturing (52.6 vs 53.1), wholesale trade (46.7 vs 49.2), financial services (77.7 vs 85.0), and other services (53.4 vs 59.7), while improving in agriculture (57.5 vs 56.4).
2026-11-05
Uganda Business Confidence Weakens in September
Uganda’s Business Tendency Index fell to 55.8 in September 2026 from a downwardly revised 57.7 in August. Assessments deteriorated across most indicators, including the present business situation (53.4 vs 55.9 in August), order volumes with suppliers (56.5 vs 65.2), current employment (51.6 vs 53), financial situation (51.9 vs 53.2), access to credit (40.4 vs 41.7), current demand for services (55 vs 56.7), future demand for services (72.1 vs 72.5), and order books (40.8 vs 49.5). In addition, average selling prices increased (59.9 vs 58), while competition among businesses also intensified (72.2 vs 70.5). Meanwhile, the outlook for business conditions over the next three months improved (60.5 vs 59.8), as did expected employment (56.7 vs 55.4). Across sectors, confidence weakened in construction (47.7 vs 48.8), manufacturing (53 vs 54.8), wholesale trade (49.3 vs 54.1), agriculture (53.3 vs 56.3), and other services (59 vs 60.3), while it rose in financial services (85.5 vs 80.2).
2026-10-06
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).
2026-09-04