The Stanbic Bank Uganda PMI increased to 54.6 in August 2020 from 50.3 in the prior month. It was the second straight month of expansion in the sector, amid some loosening of restrictions around the coronavirus pandemic. Both output and new orders continued to grow. Also, employment increased for first time in six months, indicating that the COVID-19 downturn had left residual spare capacity at their units, thereby reducing the need for additional staff. On the price front, input prices increased for the third straight month as purchased, transportation and utilities costs moved higher. Meanwhile, selling prices rose for the second straight month as companies passed on higher cost burdens to their customers. Lastly, business sentiment remained positive, supported by hopes of a gradual return to normality in business conditions.
Composite Pmi in Uganda averaged 52.88 points from 2016 until 2020, reaching an all time high of 58.80 points in January of 2020 and a record low of 21.60 points in April of 2020. This page provides - Uganda Composite Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news. Uganda Composite Pmi - data, historical chart, forecasts and calendar of releases - was last updated on September of 2020. source: Markit Economics
Composite Pmi in Uganda is expected to be 54.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Composite Pmi in Uganda to stand at 56.00 in 12 months time. In the long-term, the Uganda Composite Pmi is projected to trend around 55.00 points in 2021 and 57.00 points in 2022, according to our econometric models.