Business conditions in Kenya improved for the first time in eight months amid reports of greater political stability, this is according the monthly Purchasing Managers’ Index™ (PMI™) survey by Stanbic Bank.
The headline figure for the month of December rose to 53.0 from 42.8 in November on expansions in output, new orders, stocks of purchases and employment, thereby reversing the recent downward trend.
Furthermore, the rate of expansion was the fastest since September 2016 and sharp overall.
Commenting on December survey findings, Jibran Qureishi, Regional Economist E.A at Stanbic Bank said: “The Stanbic PMI rose above the 50.0 level mark for the first time since April as the private sector began to benefit from political stability. Looking ahead, we remain optimistic that growth will recover over the coming year supported by the agriculture and tourism sector, while a resumption in public spending will also add some much needed stimulus.”
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