Kenya’s private sector activity expanded at the weakest pace in the survey’s twenty-two month history in October, survey figures from Markit Economics showed Wednesday.
The seasonally adjusted Cfc Stanbic Kenya PMI dropped to 51.7 in October from 51.9 in the previous month. However, any reading above 50 indicates expansion in the sector.
Private sector output increased at a marginal rate in October and it was the weakest in the short series history.
At the same time, the rate of growth in new orders accelerated in October from the previous month, underpinned by another solid increase in export work.
Employment level in the sector rose marginally in October. Meanwhile, backlogs of work fell for the second consecutive month.
On the price front, input price inflation remained sharp in October, despite easing to a four-month low. Selling pries climbed for the seventh successive month, as firms were able to pass through their higher input costs to clients.
The material has been provided by InstaForex Company – www.instaforex.com