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Kenya private sector activity stagnates in May

Kenya's private sector activity stagnated last month as firms reported a drop in output and new orders mainly due to weak consumer demand ahead of a national election in August.

The Markit Stanbic Bank Kenya Purchasing Managers' Index (PMI) dropped to 49.9 from 50.3 the previous month, falling below the 50.0 level which separates growth and contraction.

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