Kenya private-sector activity rebounds in April, PMI shows
News
By
Reuters
| May 05, 2016
Kenyan companies expanded production and got more new orders in April as demand for exports grew in regional markets, a survey showed on Thursday.
The Markit and CFC Stanbic Kenya Purchasing Managers' Index (PMI) rose to 54.8 in April, from 52.6 in March. Anything above
50.0 denotes growth; anything below, contraction. The PMI is one of the indicators watched by the central bank's Monetary Policy Committee. The rise in April's PMI was the fastest since the series began in January 2014.
Jibran Qureishi, the regional economist for East Africa at CFC Stanbic, said respondents indicated exports to neighbouring
Uganda had increased. "As regional infrastructure is bolstered, through developments such as the Standard Gauge Railway, we suspect this avenue will continue to show more promise in the coming years,"Qureishi said.
READ MORE
KQ suspends flights to Kinshasa over detention of staff
Kenyan retailers ready to pounce as Ethiopia to open up market
Hiring civil servants on contract will fuel corruption, experts say
Absa Life Assurance earnings jump 84pc to Sh667 million
Ruto pushes rich nations to boost funding for poor States
Counties sitting on Sh1b emergency fund amid raging floods
Poultry players protest US import deal plan
Uptake of AI-powered home solutions low despite many benefits
Logistics firm eyes bigger market pie after MSC pact, rebrand
Uganda concluded a presidential vote in February. Business activity had slowed during campaigning.
Despite the rise, the latest Kenya PMI was the lowest reading during the month of April since the series started. The
central bank took control of mid-sized Chase Bank on April 7,stoking worries about the health of the financial sector.
- KQ suspends flights to Kinshasa over detention of staff
- Hiring civil servants on contract will fuel corruption, experts say
- Kenyan retailers ready to pounce as Ethiopia to open up market
- Is government on 'fuliza' mode?