Kenya’s business activity shrinks for second month: Stanbic PMI

NAIROBI, Kenya, July 3 - Kenya’s private sector activity declined for the second consecutive month in June, reflecting mounting pressure on businesses Kenya breaking news | Kenya news today |..
✨ Key Highlights
Kenya’s private sector activity has contracted for the second month in a row, as indicated by the latest Stanbic Bank Kenya Purchasing Managers’ Index (PMI), which dropped to 48.6 in June from 49.6 in May.
- PMI reading below 50.0 indicates ongoing economic challenges.
- Comments from Christopher Legilisho, an economist at Standard Bank, highlight issues like reduced consumer spending and operational disruptions due to protests.
- Despite the downturn, 18% of firms are optimistic about increasing output in the coming year.
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