(3 minutes read)
- Economic conditions in the Kenyan private sector improved at a faster pace in January, driven by sharp increases in output and new business activity, according to stanbic monthly economic survey
- The survey reveals that workforce numbers rose at a faster rate.
- Firms also expressed stronger optimism towards the next year of business activity
Economic conditions in the Kenyan private sector improved at a faster pace in January, driven by sharp increases in output and new business activity, according to stanbic monthly economic survey. The survey reveals that workforce numbers rose at a faster rate.
Firms also expressed stronger optimism towards the next year of business activity.
The PMI posted 53.2 in January, up from 51.4 in December to the highest reading for three months. The index pointed to a solid improvement in the health of the private sector economy
Economic conditions in the Kenyan private sector improved at a faster pace in January, driven by sharp increases in output and new business activity, according to stanbic monthly economic survey. The survey reveals that workforce numbers rose at a faster rate.
Firms also expressed stronger optimism towards the next year of business activity.
The PMI posted 53.2 in January, up from 51.4 in December to the highest reading for three months. The index pointed to a solid improvement in the health of the private sector economy.
Output and new orders both rose sharply in the new year. Firms reported improvement in businesses, and better cash Rising levels of business activity led to companies hiring more hands.
One of the negative spin offs was the cost inflation. It accelerated in January, mainly due to a hike in VAT to 16%. This led to many suppliers increasing their prices. Raw material shortages and rising demand for inputs also contributed to an uptick in purchase costs. Business confidence index ticked high and was at a three-month high.
