KAMPALA —Despite increasing utility, rent, material, and staff costs, Uganda’s private sector continues to thrive, according to the latest Stanbic Purchasing Managers’ Index (PMI). The PMI dipped from 54.1 in May to 51.9 in June, indicating continued growth but at a slower pace.
“The private sector in Uganda is showing remarkable resilience in the face of rising costs,” said Christopher Legilisho, Economist at Stanbic Bank. “The strong demand conditions are driving output and employment growth, and businesses are optimistic about the future.”
“The growth in output and new orders is a testament to the strength of the private sector in Uganda,” Legilisho added. “Despite the challenges posed by rising costs, businesses are confident about their future prospects and are investing in their operations to meet growing demand.”
“The rise in input prices is a concern for businesses, but they are managing to absorb some of these costs and pass on the rest to consumers,” Legilisho explained. “This is a sign of the resilience of the private sector in Uganda and its ability to adapt to challenging conditions.”
“The outlook for the private sector in Uganda is positive, with businesses expecting further growth in output and new orders,” Legilisho said. “This is a testament to the strength of the economy and the resilience of the private sector.”
