The Business Tendency Index in Uganda dropped to 55 in January 2026 from a downwardly revised 56.4 in the previous month. This marked the lowest reading since September 2024, amid declines in sub-indices for present business situation (51.3 vs 53.1 in December), current employment (48.2 vs 50.3), financial situation (51.4 vs 53.1), access to credit (40.2 vs 42.7), and order books (52.9 vs 55.9). On the other hand, improvements were seen in business situation over the next three months (62.2 vs 60.7), order volumes with suppliers (61.5 vs 60.6), and expected employment (54.7 vs 54.5). Among sectors, confidence fell in construction (44.7 vs 47.8), manufacturing (56.8 vs 57.9), agriculture (53 vs 55.2), other services (57.2 vs 57.8), and financial services (70.1 vs 77.1), while increased in wholesale trade (52.3 vs 51.8).