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Financial News: Kenya Private Sector Returns To Growth In December

Kenya Private Sector Returns To Growth In December

01/04/2018 - 05:44:00 (RTTNews)

(RTTNews) - Kenya's private sector activity expanded for the first time in eight months in December amid reports of greater political stability, survey figures from IHS Markit showed Thursday.

The seasonally adjusted Stanbic Bank Purchasing Managers' Index, or PMI, climbed to 53.0 in December from 42.8 in November.

A reading above 50 indicates expansion, while any score below 50 suggests contraction in the sector.

Growth was underpinned by expansions in output, new orders, stocks of purchases and employment, thereby reversing the recent downward trend.

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