Private sector growth hits four-month low in January

Employment rose for the 12th consecutive month, the longest uninterrupted period of job creation since 2019. [iStockphoto]

The private sector started the year on a cautious note as business growth slowed to a four-month low in January, weighed down by a slump in construction and retail activity, a new survey shows.

The closely watched Stanbic Bank Kenya Purchasing Managers’ Index (PMI) dropped to 51.9 in January, down from 53.7 in December.