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Browsing: Kenya Economic Update (KEU)
- Kenya’s business conditions weakened slightly in March despite easing inflation.
- Kenyan firms reduced their purchases of inputs in line with weaker sales.
- Most businesses remain optimistic about their workforce size and revenue growth in the year’s second quarter (April-June).
The latest Stanbic Bank Kenya Purchasing Managers’ Index indicates that Kenya’s business conditions weakened slightly in March despite easing inflation.
The deterioration in operating conditions was witnessed across the private sector as order book volumes and output levels contracted. The downturn contrasted with February, which saw an improvement in the private sector for the first time in six months.
Despite the decline, the survey data provided some positive signals for Kenyan businesses. Staffing and inventories showed further growth, indicating potential expansion opportunities.
Additionally, input cost inflation slowed to its lowest level in over three years amid a recovery in the shilling against the US dollar and other major currencies, including those …
- Kenya’s GDP, powered by broad-based growth in services and industry, increased by 6 per cent year-over-year in the first half of 2022
- The agricultural sector’s performed poorer, with a 1.5 per cent contraction in the first half of 2022
- Kenya’s medium-term growth prospects remain favourable, with GDP expected to expand by an average of 5.2 per cent in 2023–2024
Kenya’s gross domestic product (GDP), powered by broad-based growth in services and industry, increased by 6 per cent year-over-year in the first half of 2022.
The post-COVID -19 recovery was hampered by fluctuations in global commodity prices, a protracted drought in the country, and apprehension over the general elections in 2022.
According to the 26th issue of the Kenya Economic Update (KEU), households throughout the nation have been impacted by the drought and rising living expenses.
Due to the agriculture sector’s poor performance, which resulted in a 1.5 per …