Stanbic Bank Posts Improved Purchasing Managers’ Index

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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,  Jibran Qureishi,  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.

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