Kenya’s Private Sector Remains Under Pressure as Rising Costs Dampen Demand

Kenya’s private sector remains under pressure as rising costs dampen demand

Nairobi residents walking to work/FILE Kenya’s private sector activity remained in contraction territory in April, as rising fuel costs and broader price pressures continued to squeeze businesses and weaken consumer demand. The latest Stanbic Bank Kenya Purchasing Managers’ Index (PMI) shows, the headline PMI inched up to 49.4 in April from 47.7 in March, signalling a second consecutive month of deteriorating business conditions. The marginal im…

Kenya's private sector shrinks for second month as fuel costs surge

Kenya’s private sector contracted for a second straight month in April, squeezed by a sharp rise in fuel prices that eroded margins and kept consumers from spending, a closely watched business survey revealed Wednesday. The Stanbic Bank Kenya Purchasing Managers’ Index climbed to 49.4 in April from 47.7 in March, yet stayed below the 50.0 [...] The post Kenya’s private sector shrinks for second month as fuel costs surge appeared first on Khusoko…