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Private sector activity shrinks for first time in 7 months on global shock, weak demand
An aerial view of downtown Nairobi CBD as pictured on December 5, 2023.Kenya’s private sector slipped into contraction in March as weak demand and rising costs slowed business activity.
Kenya’s private sector activity slipped into a contraction in March, ending a six-month expansion streak as weak consumer demand and rising costs weighed on businesses.
Latest data from the Stanbic Bank Kenya Purchasing Managers’ Index (PMI) shows the index dropped to 47.7 in March from 50.4 in February, falling below the 50-point threshold that separates growth from contraction.
