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Purchasing Index: Dry spell takes a toll on firms

East Africa Regional Economist at Stanbic Bank Jibran Qureishi. [File, Standard]

Businesses were hit hard by additional costs attributed to inflation and delayed rains even as customers purchasing power declined on empty pockets last month.

April also saw business activity shrink to 17-month low as agricultural production reduced on delayed long rains and low money circulation according to the Stanbic Bank Purchasers Manager Index.

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