Kenya's business shrunk to second weakest since 2016 on enhanced Covid-19 restrictions especially in Uganda and Rwanda. According to the latest Private Sector Managers Index released Monday by Stanbic Bank, the overall Purchasing Managers Index (PMI) slipped to 51 points in June compared to 52.5 in May. Four of the five sub-components of the PMI dropped with the exception being the Stocks of Purchases Index which rose. Last month, Kenya instituted strict Covid-19 prevention measures among them longer curfew hours in counties that form the Lake Region Economic Bloc. Despite the challenges, the health of Kenya's private sector business improved for the second month running supported by further rises in output and new orders.

Source: The Star July 05, 2021 15:00 UTC