Kenya PMI March 2017

Kenya

Kenya: PMI falls into contractionary territory in March

April 5, 2017

The composite Purchasing Managers’ Index (PMI), produced by IHS Markit and CfC Stanbic Bank, fell from 50.1 in February to a record low of 48.5 in March. The index now lies below the 50-threshold, which means business activity is contracting.



March’s result was driven primarily by a fall in output, itself a result of weak demand. Nevertheless, new orders continued to grow, albeit at the slowest rate in over three years. Backlogs of work continued to increase, which did not translate into further job creation. Input prices rose strongly, but firms chose to lower output prices in an effort to maintain market share.

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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Nigeria PMI March 2017 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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