Browsing: business conditions

Kenya's economic growth
  • A survey by Stanbic Bank of Kenya revealed that Kenyan firms continued to report a drop in output levels at the end of the second quarter of 2022
  • The rate of decline sped up for the third straight month and was sharp, shown by a further decrease in the seasonally adjusted Output Index to its lowest since April 2021
  • The sector’s headline Purchasing Managers’ Index (PMI) fell to 46.8 from 48.2 in May, indicating a continued decline in business conditions and activities in the Kenyan economy

Kenyan firms continued to report a drop in output levels at the end of the second quarter of 2022.

A new survey by Stanbic Bank Kenya indicates that the rate of decline sped up for the third straight month and was sharp, shown by a further decrease in the seasonally adjusted Output Index to its lowest since April 2021.

Surveyed businesses said they were …

  • Kenya’s headline figure climbed to 51.4 in October, from 50.4 in September.
  • Readings above 50.0 signal an improvement in business conditions on the previous month.
  • The increase was largely driven by the normalization of business spending following pandemic-related measures.

The Kenya Purchasing Managers’ Index ticked higher in October, as output growth strengthened for the first time in five months and new business continued to grow.

According to the Markit Stanbic Bank Kenya survey, the country’s headline figure climbed to 51.4 in October, from 50.4 in September.

Readings above 50.0 signal an improvement in business conditions on the previous month, while readings below 50.0 show a deterioration.

During the period, new business volumes continued to rise, extending the current run of growth that began in May.

For the first time in five months, the seasonally adjusted Output Index ticked higher in October, thus signalling a faster expansion in Kenyan business activity.…