Browsing: Industries in Kenya

Kenya East Africa’s largest and advanced economy has witnessed how the coronavirus has winged the trajectory of its private sector as the levels of activity and demand in May, as the virus stopped various economic interactions, a Stanbic Kenya survey showed.

According to the survey, the Purchasing Managers Index (PMI) stood at 36.7 higher than April’s 34.8.

Further, if there is reading above 50.0 it signals an improvement in business conditions as in the previous month, while readings below 50.0 show deterioration.

However, according to Regional Economist for East Africa at Stanbic Bank Jibran Qureishi said business conditions have worsened in each month of 2020 so far, with the latest deterioration marked by historical standards, according to information from Capital FM Kenya.

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Also, the report noted that “Driving the downturn was a considerable fall in output levels in …