NAIROBI, Dec 3 (Reuters) – Kenya’s private sector activity expanded for the third consecutive month in November to stand at a five-year high, boosted by better performance across all sectors, a survey showed on Wednesday.
The Stanbic Bank Kenya Purchasing Managers’ Index rose to 55.0 in November from 52.5 a month earlier. Readings above 50.0 indicate growth in business activity, while those below that signal contraction.
November’s figure is the highest since October 2020, the survey showed.
“The uplift in business activity was also one of the sharpest recorded in the survey history. Survey panellists attributed the steep increase in output to stronger market demand,” Stanbic Bank said in comments accompanying the survey.
Kenya’s finance ministry forecasts the economy to grow 5.3% in 2025 and 2026, up from 4.7% in 2024.
The World Bank says it expects the economy to grow 4.9% this year, up from its May forecast of 4.5%, and maintain that growth rate over the next two years.
(Reporting by George Obulutsa; Editing by Joe Bavier)
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