Kenya’s private sector activity picked up in June, breaking a run of three previous monthly contractions, a survey showed this Friday.
The Stanbic Bank Kenya Purchasing Managers’ Index (PMI) rose to 50.0 in June from 46.6 a month earlier. Readings above 50.0 indicate growth in business activity, while those below that signal contraction.
Inflation slowed to 6.4% year on year in June from 6.7% in May, data from the statistics office showed.
The Finance Ministry forecasts the economy will grow 5.0% this year and 5.2% next year, from 4.6% last year.
—Reuters—
