Publication Date: 2020-06-04
A survey on Thursday showed Kenya’s private sector activity inched up in May after falling sharply a month earlier because of restrictions to curb the spread of coronavirus, but conditions are expected to worsen in coming months. The Markit Stanbic Bank Kenya Purchasing Managers’ Index (PMI) came in at 36.7, higher than April’s 34.8 but still well below the 50 mark that separates expansion from contraction. The survey compilers in a report said driving the downturn was a considerable fall in output levels in May, as businesses reported lower activity due to weak sales. Tourism and horticulture, leading sources of foreign exchange, have been hit hard by the coronavirus crisis, as have transport and manufacturing. Learn more about your ad choices. Visit megaphone.fm/adchoices
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