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Rising costs choke firms despite growing demand
Firms struggled to keep up with growing demand, with output contracting for a seventh consecutive month as high costs and supply shortages choked operations.
Businesses are passing rising fuel, transport and agricultural costs to consumers at the fastest pace in nearly three years as stronger demand and improving cash flows revive private-sector activity, findings of a monthly survey suggest.
The Stanbic Bank Kenya Purchasing Managers’ Index shows that new orders in September rose for the fourth consecutive month, with businesses citing stronger market demand, customer referrals, marketing campaigns and cash injections as drivers of sales growth.
