Kenya PMI January 2017


Kenya: PMI falls in January

February 3, 2017

The composite Purchasing Managers’ Index (PMI), produced by IHS Markit and CfC Stanbic Bank, decreased from 54.1 in December to 52.0 in January. The reading was the lowest since October 2016. Despite the fall, the index remains in expansionary territory, where it has been since the survey was launched in January 2014.

January’s slowdown reflects softer growth in output and new orders. Kenyan firms reported an increase in employment levels in order to meet growing backlogs of work. Input prices rose as a result of higher raw material costs. These were only partially priced into output prices.

FocusEconomics Consensus Forecast panelists expect fixed investment to expand 7.4% in 2017, which is unchanged from last month’s forecast. For 2018, panelists expect fixed investment to grow 7.6%.

Author:, Economist

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Kenya PMI Chart

Nigeria PMI January 2017

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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