The skyline in Kenya

Kenya PMI January 2023

Kenya: Conditions deteriorate markedly in February

The Stanbic Bank and S&P Global Purchasing Managers’ Index (PMI) dropped to 46.6 in February from January’s 52.0. As such, the index fell below the 50.0 neutral mark which separates an improvement from a deterioration in private-sector business conditions from the prior month. February’s result marked the first deterioration in conditions since August 2022

Behind February’s downturn was a sharp contraction in new orders as demand weakened. The fall in sales led companies to cut jobs. Consequently, output fell sharply for the first time since November. Meanwhile, costs increased at the fastest rate since 2014 amid increased taxes and exchange rate depreciation against the U.S. dollar making imports more costly.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest X Download Fullscreen