The Stanbic Bank Kenya PMI inched higher to 53.3 in December 2019 from 53.2 in the previous month, pointing the strongest expansion in the country private sector in three months. Output grew only marginally amid weather disruptions while new orders expanded at a faster rate, driving a solid rise in backlogs. New export orders increased at a steep rate, due to greater demand from European customers. Meantime, employment rose, albeit at the softest pace in seven months. Stocks of purchases also increased, although the rate of expansion eased back for the fourth month running, On the price front, input price inflation climbed to a four-month high, as suppliers raising their charges amid disruptions from heavy rains. Meanwhile, output prices increased for first time in three months. Lastly, confidence improved slightly amid a launches of new products, branch opening, and advertising efforts. Manufacturing Pmi in Kenya averaged 52.52 points from 2014 until 2019, reaching an all time high of 57.70 points in December of 2014 and a record low of 34.40 points in October of 2017. source: Markit Economics

Manufacturing Pmi in Kenya is expected to be 53.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Manufacturing Pmi in Kenya to stand at 53.60 in 12 months time. In the long-term, the Kenya CfC Stanbic Bank PMI is projected to trend around 53.70 points in 2020, according to our econometric models.

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Kenya CfC Stanbic Bank PMI

Actual Previous Highest Lowest Dates Unit Frequency
53.30 53.20 57.70 34.40 2014 - 2019 points Monthly
SA


News Stream
2019-12-04
Kenya Private Sector Growth Stagnates in November
The Stanbic Bank Kenya PMI stood at 53.2 in November 2019, unchanged from the previous month, signalling a solid improvement in the health of the Kenyan private sector. Output grew at the fastest pace in four months while new orders expanded at the slowest rate in six months. Export orders, however, increased at quickest rate in 20 months, due to greater demand from European customers. Meantime, employment rose at a solid pace and broadly similar to the prior month. Stocks of purchases also increased, although the rise was the weakest since February. On the price front, input price inflation fell to a 27-month low, as companies reported only a modest increase in purchase prices and a slight uptick in staffing cost. Lastly, confidence weakened to a 32-month low amid reduced optimism for the future.

2019-11-05
Kenya Private Sector Growth Decelerates in October
The Stanbic Bank Kenya PMI decreased to 53.2 in October 2019 from 54.1 in the previous month, signalling a solid improvement in the health of the Kenyan private sector, albeit slightly softer than in the prior month. Output expanded only marginally and new orders growth slowed amid cash circulation issues. Export orders, however, increased at a sharp and faster pace. Meantime, employment rose at a solid pace to ease capacity pressures arising from mounting backlogs of work. Stocks of purchases also increased, although the rise was the weakest since April. On the price front, input price inflation slowed to a two-year low, allowing selling charges to be cut for the first time since April. Lastly, confidence weakened to a ten-month low amid reduced optimism for the future.

2019-10-03
Kenyan Private Sector Output Expands Faster
The Stanbic Bank Kenya PMI jumped to 54.1 in September 2019 from 52.9 in the previous month, signalling a solid improvement in the health of the Kenyan private sector. Sales growth accelerated to a 13-month high, leading firms to expand their output at a quicker pace. Employment also increased, as firms remained highly optimistic for future activity. At the same time, cost pressures weakened to a near two-year low, while output price inflation also eased.

2019-09-04
Kenya Private Sector Growth at 3-Month Low
The Stanbic Bank Kenya PMI decreased to 52.9 in August 2019 from 54.1 in the previous month. The latest reading marked the fourth monthly improvement in a row, but was the softest since May, amid a sharp slowdown in output growth linked to continuing cash flow issues in the country. New orders rose sharply, though the rate of growth slowed marginally from July, in part due to exports rising at the weakest rate in the current 21-month sequence of expansion. Also, employment increased modestly, as staff cost pressures limited hiring. On a positive note, purchasing activity was up at the sharpest pace in 14 months. Regarding prices, overall input price inflation ticked down to the weakest since April, and selling prices were raised at a slower pace. Looking ahead, output expectations weakened but remained strongly positive.

2019-08-05
Kenya Private Sector Growth Eases in July
The Stanbic Bank Kenya PMI decreased to 54.1 in July of 2019 from 54.3 in the previous month. The latest reading pointed to another strong improvement in the health of the private sector, mainly due to an even sharper rise in new orders, following another strong increase in demand during June. New export orders growth was sharp but softer than in the previous month and the rate of job creation eased from the two-and-a-half year high recorded in June. On the price front, overall input prices rose at a notable pace and output prices reported the quickest increase since last December. Finally, the outlook for future activity improved even further in July, beating June's previous record high due to investment and expansion plans at several firms.

2019-07-03
Kenya Private Sector Growth at Near 1-Year High: Markit
The Stanbic Bank Kenya PMI rose to 54.3 in June 2019 from 51.3 in the previous month. The reading pointed to second straight expansion in private activity and the fastest since last August, as new orders and output advanced markedly. Both domestic and external markets contributed to the rise and an easing of cash flow issues over the past few months were also pointed as drivers. As such, employment growth was solid and reached 30-month high. On the price front, input inflation hit a 8-month high, mainly due to higher taxes, fuel hikes and increased input demand which forced a number of companies to raise their output charges in order to maintain profit levels. Looking ahead, business outlook improved to the highest in the survey history, linked to new government spending plans and firms' intentions to open new branches in the near future.


Kenya CfC Stanbic Bank PMI
In Kenya, the CfC Stanbic Bank Purchasing Managers' Index measures the performance of agriculture, mining, manufacturing, services, construction and retail sectors and is derived from a survey of 400 companies. The Manufacturing Purchasing Managers Index is based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction. A reading above 50 indicates an expansion of activity compared to the previous month; below 50 represents a contraction; while 50 indicates no change. .

Kenya Business Last Previous Highest Lowest Unit
Internet Speed 12160.37 14958.20 14958.20 208.55 KBps [+]
IP Addresses 500853.00 1148803.00 2368112.00 21502.00 IP [+]
Manufacturing Pmi 53.30 53.20 57.70 34.40 points [+]
Ease of Doing Business 56.00 61.00 129.00 56.00 [+]
Electricity Production 976.98 953.34 996.16 442.40 Gigawatt-hour [+]
Corruption Index 28.00 27.00 28.00 19.00 Points [+]
Corruption Rank 137.00 144.00 154.00 52.00 [+]
Car Production 614.00 603.00 1139.00 159.00 [+]
Car Registrations 26281.00 25694.00 32441.00 3071.00 [+]
Cement Production 453092.00 497930.00 591612.00 154781.00 Tonnes [+]
Competitiveness Index 54.14 53.67 54.14 3.61 Points [+]
Competitiveness Rank 95.00 93.00 106.00 88.00 [+]