https://en.sputniknews.africa/20241105/kenyan-economy-sees-slight-improvement-driven-by-business-activity-job-creation-sp-global-survey-1069043449.html
Kenyan Economy Sees Slight Improvement, Driven by Business Activity, Job Creation: S&P Global Survey
Kenyan Economy Sees Slight Improvement, Driven by Business Activity, Job Creation: S&P Global Survey
Sputnik Africa
According to the World Bank, Kenya's real GDP is estimated to have expanded by 5.6% in 2023, driven by a strong agricultural sector rebound. However, the... 05.11.2024, Sputnik Africa
2024-11-05T19:04+0100
2024-11-05T19:04+0100
2024-11-05T19:04+0100
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Kenya's private sector saw a slight improvement in October, with increased business activity and job creation, according to an S&P Global survey.The Purchasing Managers' Index (PMI) rose to 50.4, signaling marginal growth. This was driven by increased sales and customer interest, despite ongoing financial challenges and political uncertainty.Businesses increased their purchasing activity in anticipation of new customers, leading to a significant rise in inventories. Input costs remained low, resulting in only a slight increase in prices. Businesses expressed increased confidence about future activity, planning new ventures and investments. However, overall sentiment remained subdued compared to historical trends, despite the recent uptick in confidence.While input costs rose slightly due to taxes and material costs, lower fuel prices helped keep overall costs down compared to last year. This resulted in one of the slowest increases in selling prices in nearly four years.
https://en.sputniknews.africa/20241102/kenya-introduces-economic-and-tax-changes-aimed-at-enhancing-revenue-collection-1068994756.html
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economy, kenya, east africa, survey, development, business, work, finance, domestic policy, politics, policy, prices, investment
economy, kenya, east africa, survey, development, business, work, finance, domestic policy, politics, policy, prices, investment
Kenyan Economy Sees Slight Improvement, Driven by Business Activity, Job Creation: S&P Global Survey
Ekaterina Shilova
Writer / Editor
According to the World Bank, Kenya's real GDP is estimated to have expanded by 5.6% in 2023, driven by a strong agricultural sector rebound. However, the industrial sector, particularly manufacturing, is underperforming due to challenging market conditions.
Kenya's private sector saw a slight improvement in October, with increased business activity and job creation, according to an S&P Global survey.
The Purchasing Managers' Index (PMI) rose to 50.4, signaling marginal growth. This was driven by increased sales and customer interest, despite
ongoing financial challenges and political uncertainty.
Businesses increased their purchasing activity in anticipation of new customers, leading to a significant rise in inventories. Input costs remained low, resulting in only a slight
increase in prices. Businesses expressed increased confidence about future activity, planning new ventures and investments. However, overall sentiment remained subdued compared to historical trends, despite the recent uptick in confidence.
While input costs rose slightly due to taxes and material costs, lower fuel prices helped keep overall costs down compared to last year. This resulted in one of the slowest increases in selling prices in nearly four years.
