The survey showed business activity rising more slowly, but still remaining robust as demand strengthened © UnsplashA measure of business conditions in Uganda’s private sector pulled back to its lowest level in four months, although it remained in expansion territory. The Stanbic Bank Uganda purchasing managers’ index slipped to 53.6 in July from 55.6 the previous month, indicating the second consecutive decline in companies’ activity, according to S&P Global data. Companies reported robust new sales and an increase in output across all monitored sectors, which drove a rise in hiring and growth in inventory levels, the survey found. Only construction companies reported a drop in selling prices, S&P said. This is because they are based on responses to questions about current business conditions, including new orders, sector production, supplier deliveries, company inventories, and employment figures.