KAMPALA, Mar 5 (NNN-IRIN) – Uganda’s Purchasing Managers’ Index rose to 55.7 in Feb, up from 54.9 in Jan, an indication of economic expansion, according to a new monthly report, yesterday.
The Stanbic Bank report attributed the increase to a return to normality of the country’s economy, after it was fully reopened on Jan 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.– NNN-IRIN
