KAMPALA, Jan. 26 (Xinhua) -- Uganda's Purchasing Managers' Index (PMI) fell for the second consecutive month in December, the Finance Ministry said here on Monday.
The PMI in December was 51.2, while it was 53.9 in November, the ministry said in its monthly report for December 2020.
"This came as a result of a decrease in employment, and lengthened supplier delivery time due to material shortages and delay when importing goods," it said.
Despite the reduction, the PMI remained above the threshold of 50, which signals an improvement in overall business conditions.
The report also noted that sentiments about doing business in Uganda slightly deteriorated in December as the Business Tendency Index dropped 1.8 percent from 50.46 in November.
"This was majorly attributed to the uncertainty surrounding the impact of the general elections on economic activity," the report said.
Uganda held its general elections on Jan. 14. Enditem
