Uganda Private Sector Rebounds in April

The Stanbic Bank Uganda PMI climbed to 52.6 in April 2024 from 49.3 in the previous month, indicating a renewed upturn in the Ugandan private sector.

Supporting overall growth were rebounds in new orders and output, reflecting strengthened demand conditions.

At the same time, purchasing activity and inventories expanded.

Moreover, businesses hired more workers to alleviate backlogs of work and capacity pressures.

On the cost side, overall input prices continued to rise, as purchase and staff costs increased for the second straight month.

Consequently, firms raised their selling prices again due to higher expenses.

Lastly, Ugandan businesses remained upbeat about the outlook for customer demand and output over the next 12 months, driven by expectations of improved demand and increased spending on advertising.