Kenya’s PMI Drops to 49.7 in August as Firms Cut Output

Kenya’s Stanbic Bank Kenya Purchasing Manager’s Index(PMI) fell to 49.7 in August, signalling a decline in operating conditions for Kenyan firms for the first time in three months in August. This is supply shortfalls and cost saving measures prompted Kenyan firms to reduce their output and purchases. “Kenya’s Stanbic…