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.