Uganda’s PMI Rises to 55.7 in February

Uganda’s PMI Improves for February 2022

Uganda’s Purchasing Managers’ Index or PMI has risen to 55.7 in February, up from 54.9 in January, an indication of economic expansion, according to a new monthly report Friday.

The Stanbic Bank report attributed the increase in PMI in Uganda to a return to normality of the country’s economy after we fully reopened it on January 24 after nearly two years of COVID-19 restrictions.

A PMI above 50 represents an expansion when compared with the previous month. A PMI reading under 50 represents a contraction, and a reading at 50 indicates no change. The further away from 50 the greater the level of change.

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