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 ...

China and India continue to remain the most promising investment destinations in 2017.
Developing Asia is expected to witness a 15% increase in...
Elon Musk, Kevin Plank, Bob Iger, Richard Trumka, Kenneth Carleton Frazier
The honeymoon is definitely over. When US President Donald...
LatAm  Counts Losses
Mexico will be the biggest loser from North American Free...
Eurozone Q2 Growth Revised Upwards
The eurozone economy expanded as initially estimated in the...
US Household Debt at $12.8 Trillion
US household debt reached a new record in the second quarter,...
Mauritius Economy Robust
An International Monetary Fund mission led by Amadou Sy...
At 310% GDP, China’s banking sector is above the advanced economy average and nearly three times  the emerging market average.
China's economy is looking good enough that the International...
Thai CB Retains Key Rate
Thailand’s central bank on Wednesday left its key interest...

Add new comment

Read our comment policy before posting your viewpoints

Enter the characters shown in the image.