Kenya’s private sector activity expanded for the third consecutive month in November to stand at a five-year high, boosted by better performance across all sectors, a survey showed on Wednesday.
The Stanbic Bank Kenya Purchasing Managers’ Index (PMI) rose to 55.0 in November from 52.5 a month earlier.
Readings above 50.0 indicate growth in business activity, while those below that signal contraction.
November’s figure is the highest since October 2020, the survey showed.
“The uplift in business activity was also one of the sharpest recorded in the survey history.
Survey panellists attributed the steep increase in output to stronger market demand,” Stanbic Bank said in comments accompanying the survey.
–Reuters–
