Kenya: PMI hits 8-month high in December
January 19, 2017
The composite Purchasing Managers’ Index (PMI), produced by IHS Markit and CfC Stanbic Bank, increased from 53.3 in November to 54.1 in December. The reading was the highest since April 2016. As a result, the index remains in expansionary territory, where it has been since the survey was launched in January 2014.
December’s increase reflects better business conditions. New orders increased at the fastest pace in nearly a year and purchasing activity expanded at the strongest pace since the survey was launched. That said, input costs have been on an upward trend, which will increase inflationary pressures in the months to come.
Author: Dirina Mançellari, Senior Economist