The Stanbic Bank Kenya PMI rose to 52.5 in October as new orders jumped, Business Today Kenya reported. Output grew for the first time in eight months, and business confidence hit its highest level since early 2020.
Kenyan business activity returned to growth in October, according to the Stanbic Bank Kenya Purchasing Managers' Index (PMI). The index reached 52.5, Business Today Kenya reported on Wednesday. New orders rose sharply, and firms grew more upbeat about the months ahead, the outlet said.
Output rose for the first time in eight months, driven by a sharp upturn in sales. Business confidence was at its strongest since early 2020, the survey showed.
Costs remain a worry. Input cost inflation climbed to near a three-year high, Business Today Kenya reported. Firms that pay more for inputs often pass those costs on to customers.
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