Browsing: Stanbic Bank PMI

Kenya’s Purchasing Managers’ Index (PMI) fell from 51.1 in August to 50.4 in September, signalling an overall improvement in operating conditions.

The PMI survey commissioned by Stanbic Bank indicated that the pace of improvement was marginal and was the weakest seen in the current five-month sequence of growth.

During the month, output and new orders rose, driven by a continued recovery in demand from the strict lockdown earlier in the year.

Exports were also a key source of growth, as foreign orders increased at the fastest rate since October 2020.

Business activities in Uganda continue to rise

Impact of Fuel Hike

The survey found that a rise in living costs had weakened consumer spending, leading to a softer – and only marginal – rate of total sales growth.

Subsequently, the rate at which business activity expanded was the slowest seen since the return to growth
following April’s lockdown-induced decline.

The …