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COVID-19: Stanbic’s March 2020 Purchasing Managers Index hits 3-year low as private sector enters into contraction

by Muhereza Kyamutetera
Kenneth Kitungulu Stanbic Bank Uganda Head of Global Markets
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The Stanbic Purchase Managers Index (PMI) for March has recorded the first decline in business activity. This is due to the global coronavirus disease 2019 (COVID-19) pandemic which has led to falling new business, company shutdowns and issues with the supply of materials, thus pushing the Ugandan private sector into contraction. The headline PMI posted below the 50.0 no-change mark at 45.3 in

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About the Author

Muhereza Kyamutetera is the Executive Editor of CEO East Africa Magazine. I am a travel enthusiast and the Experiences & Destinations Marketing Manager at EDXTravel. Extremely Ugandaholic. Ask me about #1000Reasons2ExploreUganda and how to Take Your Place In The African Sun.