Stanbic Bank Posts Improved Purchasing Managers’ Index
Stanbic Bank Uganda has released its Purchasing Managers’ Index for February with the latest headline figure posting 53.2 in March, up from 51.1 in February indicating a further improvement in the health of the private sector.
Commenting on March’s survey findings, JibranQureishi, Regional Economist East Africa at Stanbic Bank said that Operating conditions in Uganda’s private sector further improved even though pace of recovery is still sluggish.
Revealing the underlying reasons behind the PMI’s sustained upward trajectory, BenoniOkwenje, Stanbic Bank’s Fixed Income Manager said that forming the basis for growth was an increase in new business.
