Kenya PMI October 2016

Kenya

Kenya: PMI decreased in October

The composite Purchasing Managers’ Index (PMI), produced by IHS Markit and CfC Stanbic Bank, decreased in Kenya from 53.5 in September to 52.0 in October, the lowest level in four months. Despite the drop, the index remained in expansionary territory, where it has been since the survey was launched in January 2014.

October’s deterioration came on the back of a decrease in domestic demand and only subdued increases in output and total new work. However, exports improved in October and increased at the fastest pace in six months. Analysts added that, “we remain cautious about agriculture output over the coming months owing to weather reports of uneven rainfall in the key food growing counties. Moreover, the slowdown in private sector credit growth also poses as a downside risk to the promise of the private sector.”

FocusEconomics Consensus Forecast panelists expect fixed investment to expand 5.9% in 2016, which is unchanged from last month’s forecast. For 2017, panelists expect fixed investment to grow 7.4%, which is also unchanged from last month’s estimate.


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Kenya PMI Chart


Nigeria PMI October 2016 0

Note: Purchasing Managers’ Index. Readings above 50 indicate an expansion in business conditions while readings below 50 point to a contraction.
Source: Stanbic IBTC Bank Nigeria and IHS Markit.


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