Kenya PMI November 2016


Kenya: PMI improves in November

December 7, 2016

The composite Purchasing Managers’ Index (PMI), produced by IHS Markit and CfC Stanbic Bank, increased from 52.0 in October to 53.3 in November. As a result, the index remains in expansionary territory, where it has been since the survey was launched in January 2014.

Nigeria's increase in November reflects better business conditions on the back of improvements in both domestic and external demand. New work expanded at the fastest rate since February and growth of new businesses increased in November. Analysts added that, “looking ahead, cost for firms could start edging higher owing to the weaker exchange rate, however more specifically we remain concerned around the sharp slowdown in private sector credit growth which could eventually prove to be a stumbling block for activity within Kenya’s private sector.”

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:, Senior Economist

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Kenya PMI Chart

Nigeria PMI November 2016

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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