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 ...

Shifting transactions from cash to digital payments holds great promise for  individuals, businesses and governments.
More than 23% of the world's economy operates out of sight of...
India Launches 888 Anti-Dumping Probes
The Indian government has initiated as many as 214 anti-...
Federal Reserve Board Chairman Jerome Powell speaks during a hearing before the Senate Banking, Housing and Urban Affairs Committee.
US Federal Reserve Chairman Jerome Powell said protectionism...
Fitch Retains Philippine  Debt Rating
Global debt watcher Fitch Ratings kept the Philippines’...
The warnings come amid a period of financial uncertainty for the world.
US officials who helped the country survive the 2008 financial...
UN to Help Rebuild Gaza Economy, Create Jobs
Against the backdrop of rapidly rising tension, violence,...
Africa Next Frontier for Crypto
Cryptocurrency is not bound by geography because it is...
EU to Fine Google $5 Billion
Google will be fined about €4.3 billion ($5 billion) by the...

Add new comment

Read our comment policy before posting your viewpoints