Kenya private sector activity picks up in November compared to October, PMI shows

Kenya private sector activity picks up in November compared to October, PMI shows

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Kenya’s private sector activity expanded in November as strength in the services and wholesale and retail sectors offset a weaker performance in agriculture, manufacturing and construction, a survey showed.

The Stanbic Bank Kenya Purchasing Managers’ Index (PMI) rose to 50.9 in November from 50.4 a month earlier. Readings above 50.0 signal an expansion in activity.

“New orders grew at the fastest pace in six months, with improvements in consumer spending and increased travel contributing to higher sales,” said Christopher Legilisho, an economist at Stanbic Bank.

“However, this was not broad-based, but only in the wholesale and retail and services sectors. Sales declined across agriculture, manufacturing and construction.”

The finance ministry forecasts the economy will grow 5.2 per cent  in 2024 and 5.4 per cent in 2025. The economy grew 5.6 per cent in 2023.

  • A  Reuters report
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