This archive report was first published on 3 July 2019.
On June 30, 2019, Stanbic Bank's Purchasing Managers' Index revealed that Kenya's private sector recorded a significant growth in employment rates, with the highest level seen since December 2016.
The index registered a score of 54.3 in June compared to 51.3 in May, indicating a steep improvement in operating conditions for Kenyan private sector businesses.
Firms were encouraged by the strong increase in demand for their products and services, leading to a greater number of hires.
According to the survey, optimism was often driven by plans to open new branches and expand into other markets.
Some firms also mentioned that the recent government spending announcement should stimulate business activity throughout the year.
Business expectations were at a record high in June, with over 92 percent of companies giving a positive prediction for output over the coming 12 months.
