KAMPALA, March 4 (Xinhua) -- Uganda's Purchasing Managers' Index rose to 55.7 in February, up from 54.9 in January, an indication of economic expansion, according to a new monthly report Friday.
The Stanbic Bank report attributed the increase to a return to normality of the country's economy after it was fully reopened on Jan. 24 after nearly two years of COVID-19 restrictions.
A PMI above 50 represents an expansion when compared with the previous month. A PMI reading under 50 represents a contraction, and a reading at 50 indicates no change. The further away from 50 the greater the level of change. ■