A ship on its way to dock at the port of Mombasa. New orders for goods
rose, showing improved business conditions, the companies said in a
press statement. Photo/Raphael Wanjala.
Output
and job creation increased last month to put Kenya’s private sector on a
higher growth path, says the latest Purchasing Managers Index (PMI)
released by CfC Stanbic Bank and market research firm IHS Markit.
New orders for goods rose, showing improved business conditions, the companies said in a press statement.
“The
seasonally adjusted PMI inched higher in August, posting 53.5 compared
to 53.3 in July. The latest reading pointed to sustained steady growth
of the private sector, following a marked slowdown at the end of the
second quarter,” said CfC Stanbic and Markit.
The statement noted that August’s Index, while above June’s record low of 51.5, remained weaker than the series average of 54.8.
“The degree of improvement remained historically subdued,” said the statement.
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