This archive report was first published on 4 July 2020.
Published on July 4, 2020, the latest PMI data revealed a further deterioration in business conditions among Kenyan firms, with output and new orders declining amid the COVID-19 pandemic.
According to Jibran Qureishi, Stanbic's Regional Economist for East Africa, the impact of the coronavirus will be a drag on the economy over the next six months, despite extended curfew hours and an increase in demand for Kenyan exports in Europe.
While private sector activity fell at a slower rate in June, the damage done by COVID-19 could last for the better part of the next six months, Qureishi noted.
