Business optimism dwindles in November despite looming holiday buzz
A curio trader at her shop: This was the second-lowest reading of 2016, despite November being the peak season for demand and production leading up to the holiday period. PHOTO | FILE |
What you need to know:
StanChart poll shows business confidence fell to 57.5 in November on the back of credit access concerns and high costs of input.
Business confidence among Kenyan firms fell further in November compared to October according to the latest investor poll by Standard Chartered.
The survey shows business optimism fell to 57.5 in November from 61.3 in October on the back of credit access concerns and high costs of input.
“The fall in sentiment fits our view on the Kenyan economy – weaker credit growth and demand, and potentially higher input prices, have been taking their toll on business activity,” said Standard Chartered Chief Economist for Africa, Razia Khan.
This was the second-lowest reading of 2016, despite November being the peak season for demand and production leading up to the holiday period.
