Kenya: PMI picks up in December
The S&P Global Purchasing Managers’ Index (PMI) came in at 48.8 in December, up from November’s 45.8. Consequently, the index remained below the 50.0 no-change threshold, signaling a continued, albeit slower, deterioration in private-sector operating conditions from the previous month.
The figure was driven by slower falls in output and new orders, with the latter declining at the softest pace in four months. Additionally, employment saw the smallest fall since September. Meanwhile, both input and output prices rose less than in November. Lastly, the private sector grew less optimistic about the year ahead, with growth expectations among the lowest on record.