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Originally published by The Standard BusinessJune 7, 2025
6mo ago
Firms feel heat of cost of living crisis as Kenyans cut spending
The Stanbic PMI for May fell below the 50.0 mark for the first time since September last year, signalling a deteriorating economic health...
✨ Key Highlights
Kenyan companies are facing a downturn due to rising living costs, leading to decreased spending among consumers. The latest Stanbic Purchasing Managers' Index (PMI) dropped to 49.6 in May, signaling contraction in the private sector.
- PMI fell below 50 for the first time in eight months, down from 52.0 in April
- According to Christopher Legilisho, an economist at Standard Bank, the PMI shows fragility in the private sector's recovery
- Cost of raw materials increased, but many companies kept prices stable to retain customers
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