This archive report was first published on 4 July 2019.
Kenya's private sector employment rates have reached a record high, with a significant increase in job creation in June, according to the latest Purchasing Managers' Index by Stanbic Bank.
Published on July 4, 2019, the index recorded a score of 54.3 in June, up from 51.3 in May, indicating a substantial improvement in operating conditions for Kenyan private sector businesses.
The strong increase in demand for products and services led to a greater number of hires, with firms also enjoying a sharp increase in output and new orders, driven by demand from both domestic and external markets.
"The rate of increase for output was markedly faster than in May, with only January posting stronger growth in the year-to-date. Some businesses related the rise in output to improved cash flow during the month, while others highlighted the impact of marketing activity on sales volumes," reads the index.
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, often driven by plans to open new branches and expand into other markets.
