Private sector activity slows to 15-month low on falling demandA Kenyan worker wears a dust mask as she works at the Hela intimates export processing zone (EPZ) limited factory in Athi River, Nairobi. [Courtesy]Private sector activities fell in February to a 15-month low, on the back of low consumer demand as well as a slowdown in output.The Stanbic Purchasing Managers Index (PMI) that tracked the pulse of the private sector for February, released yesterday, showed that was the lowest since November 2017, an electioneering year. The headline PMI fell from 53.2 in January to 51.2 in February, signaling a modest improvement in the health of Kenya's private sector economy. Stanbic said those polled in the survey indicated that companies lacked sufficient money to spur the productive sectors of the economy. “Some panelists are reducing output due to cash flow problems and unfavourable weather conditions,” said Stanbic.

Source: Standard Digital March 05, 2019 21:04 UTC