Browsing: PMI report

• Kenya protests led to a steep decline in business activity in July.
• Kenya’s private sector reported backlogs of work build-up and lengthened supplier lead times.
• In the month under focus, however, rates of inflation remain muted.

July 2024 has proven to be a turbulent month for Kenya’s economy, as widespread protests wreaked havoc on the nation’s private sector. The resulting decline in business activity and output has raised concerns about the long-term implications of political instability on Kenya’s economic health.

According to the Stanbic Bank Purchasing Managers’ Index (PMI) survey Kenya protests, which started in June with calls for the rejection of Finance Bill 2024, have triggered a significant downturn in business conditions, posing grim implications for various sectors, and the broader economy.

The PMI Plunge: A stark indicator of economic strain

The Stanbic Bank PMI report for July 2024 offers a sobering snapshot of the state of Kenya’s private …

Uganda’s private sector continues to recover from the impact of the Covid-19 pandemic as business conditions improved in August after a near standstill of activities during the lockdown put in place between March and the end of May.

This is according to the latest  Stanbic Purchase Managers Index (PMI) report which shows that Uganda posted a 54.6 increase from 50.3 in July, which is the highest since February.

According to the report, the reading is above the positive threshold of 50.0 and substantially higher than the 46.5 reported for June.

The PMI is a composite index, calculated as a weighted average of five individual sub-components: New Orders (30 per cent), Output (25 per cent), Employment (20 per cent), Suppliers’ Delivery Times (15 per cent and Stocks of Purchases (10 per cent).

According to Stanbic Bank Uganda head of global markets, Kenneth Kitungulu, the steady improvement is due to the fewer …