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Kenya Private Sector Activity Best Since 2016

Kenya Private Sector Activity Best Since 2016Kenya Private Sector Activity Best Since 2016

The performance of Kenya’s private sector improved to the greatest extent since January 2016 in April this year, Markit Stanbic Bank’s Kenya Purchasing Managers Index survey revealed late Friday. According to the PMI survey, the country’s private sector has greatly improved following last year’s volatile and prolonged electioneering period,  APA News reported. “The seasonally-adjusted PMI rose from 55.7 in March to 56.4 in April. This suggested that the health of the private sector improved to the strongest extent since January 2016. Notably, the latest reading outstripped the historical average of 52.8,” the survey reported. “The strength of the recovery in private sector activity continued last month. This shows that the underlying demand conditions in the economy are consistent with a solid recovery in economic activity. Thus far, this strength in activity has not been associated with any noticeable inflation pressures,” added the survey. “The strength of the recovery in private sector activity continued last month. This shows that the underlying demand conditions in the economy are consistent with a solid recovery in economic activity,” said Jibran Qureishi, regional economist EA at Stanbic Bank.

 

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