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Uganda's PMI drops to 34.9 in June amid COVID-19 lockdown - World News


2021-07-08 02:30:41 GMT2021-07-08 10:30:41(Beijing Time) Xinhua English
KAMPALA, July 8 (Xinhua) Uganda s Purchasing Managers Index (PMI) fell from 56.5 in May to 34.9 in June due to lockdown measures aimed at slowing down the surge of COVID-19 cases, a bank reported on Wednesday.
The new reading in the monthly report issued by Stanbic Bank Uganda signaled the deterioration in Uganda s business conditions for the first time in five months, which was below the series average of 52.8.
The threshold of 50 is a baseline to indicate an increase or decline of business conditions.
The report showed that the lockdown impacted a range of indicators across the private sector, as falling customer numbers meant a lack of new orders, and business activity also declined. ....

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