Kenya’s private sector activity expanded at the fastest pace in four months in April, survey figures from Markit Economics showed Wednesday.
The seasonally adjusted Cfc Stanbic Kenya PMI rose to 56.2 in April from 53.8 in the previous month. Any reading above 50 indicates expansion in the sector.
The latest reading was consistent with a robust improvement in operating conditions at Kenyan private sector companies.
Output in the private sector increased further in April and the rate of inflation was the fastest since last December, underpinned by stronger demand conditions and marketing initiatives.
New orders also increased at a faster pace in April, led by new project opportunities and strong customer turnout. Similarly, exports orders rose for the ninth straight month.
Companies raised their staffing levels again in April and the job creation solid and stronger than the average observed over 16 months of data collection.
On the price front, input prices climbed at the fastest pace in four months in April, driven by rise in both purchase prices and staff costs. As a result, output prices rose markedly.
The material has been provided by InstaForex Company – www.instaforex.com