Kenya’s private sector saw an increase in business activity in November, with new orders increasing for the third month.
The expansion was attributed to improved output in the agriculture and construction sectors.
The S&P Global Kenya Purchasing Managers’ Index (PMI) rose to 50.9 in November from 50.2 a month earlier.
A print above 50 is considered an expansion, while below 50 is taken as a contraction.
Standard Bank economist Mulalo Madula said business activity in Kenya continues to grow slowly for the third consecutive month, corroborating other data such as private sector credit growth.
“A positive assessment of the 12-month outlook suggests that businesses expect improvement despite the expected challenging global economic environment,” Madula said.
Kenya’s November inflation eased to 9.50%, down from a five-year high of 9.60% in October 2022, on reduced prices of food and non-alcoholic beverages.