Private sector slows in May as demand softens, new orders Weaken
NAIROBI, Kenya, June 5 - Kenya’s private sector faced a mild slowdown in May, marking the end of seven months of steady growth, as persistent inflationary Kenya breaking news | Kenya news today |..
✨ Key Highlights
Kenya's private sector experienced a mild slowdown in May, marking the end of seven months of growth due to inflationary pressures and reduced consumer demand.
- The Stanbic Bank Kenya Purchasing Managers’ Index (PMI) fell to 49.6 in May from 52.0 in April, indicating contraction.
- Christopher Legilisho, an economist at Standard Bank, noted signs of fragility in the recovery.
- New orders declined for the first time in over six months, impacting key sectors like construction, retail, and services.
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Business Trends and Economic Developments
Private sector activity slowed in May as demand and new orders decreased. Kenya's flower exports are expected to increase in 2025 due to growing demand. BK Group reported a 5.4% rise in profit after tax. The government announced plans to support start-up innovation through reforms, while Treasury hinted at restructuring the affordable housing levy.
