Private sector activity falls fastest in seven months on anti-tax protests

The New Sunbeam Shopping Complex located along Mfangano Street which was broken into and burnt down by looters on June 26, 2024.

Photo credit: Dennis Onsongo | Nation Media Group

Kenya’s private sector activity in June fell at the sharpest pace in seven months because of concerns around the now-dropped tax proposals and protests that followed, findings of a closely-watched survey suggested.

Stanbic Kenya Purchasing Managers Index (PMI) — a measure of private sector activity such as output, new orders and employment— dropped to 47.2 from 51.8 in May.

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Note: The results are not exact but very close to the actual.