Uganda PMI Rises
Uganda PMI Rises

Uganda PMI Rises

Uganda PMI Rises

Uganda’s private-sector business activity expanded faster in June than it did in May, buoyed by stronger domestic demand and looser monetary policy, a survey showed on Wednesday, Reuters reported. The Markit Stanbic Bank Uganda purchasing managers’ index rose to 52.8 last month from 51.0 in May. Anything above 50 indicates expansion; anything below, contraction. A Markit statement said, “output, new orders, employment and stocks of purchases” had all contributed to the higher index. “The private sector continues to recover, supported by the easing of the monetary policy,” Jibran Qureishi, East Africa economist at Stanbic Bank, said in a commentary accompanying the survey. Last month, the central Bank of Uganda cut its key lending rate to 10% from 11%, continuing a round of easing that has been running for about a year. The central bank wants to encourage a greater flow of credit to the private sector to lift slowing economic growth. Uganda’s economy expanded 3.9% in the fiscal year to the end of June, below an initial forecast of 5.5%.

Short URL : https://goo.gl/23yKz6
  1. https://goo.gl/r5ymZh
  • https://goo.gl/qd4i41
  • https://goo.gl/ETUVk6
  • https://goo.gl/CTgfpk
  • https://goo.gl/aaSVdE

You can also read ...

ADB Forecasts India Growth at 7.3 Percent
The Asian Development Bank expects India’s growth to pick up...
Dow futures dropped more than 100 points in early trading, as traders returned from the long holiday  weekend to face fresh selling pressure for US stocks.
A six-day rebound in world stocks began to splutter on Tuesday...
Ghana Told to Cut High Agro Imports
The World Bank country director for Ghana, Henry Kerali, has...
Chinese ironworks are increasingly  using Australian ore, which has  a high iron content.
Global stock markets are down from their recent peaks and...
London-based Capital Economics expects the German economy to expand by 2.7% this year. This would be above the government’s  more conservative forecast of 2.4%.
The German economy is expected to improve in the next six...
Indonesia Criticizes Trump’s Protectionist Policies
Indonesia is foregoing billions of dollars on offer from...
File picture of truckers in Buenos Aires during a demonstration last summer against the policies of Mauricio Macri.
The Argentine economy grew “close to 2.8%” last year, Guido...
Goldman Raises Red Flag Over US Gov’t Spending
US fiscal policy is headed for “uncharted territory.” That’s...

Add new comment

Read our comment policy before posting your viewpoints