PMI - The African Mirror

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Apr

2024

By The African Mirror

Kenyan private sector activity slows in March, PMI shows

BUSINESS

KENYA'S private sector activity contracted slightly in March, hurt by cashflow problems at some businesses, a business survey showed. The Stanbic Bank Kenya Purchasing Managers' Index (PMI) fell to 49.7 in March from 51.3 a month earlier. Readings above 50.0 signal growth, while those below point to a contraction. In February, it was the first time since August that the figure had gone above 50. "Output contracted modestly, which survey panellists attributed to lower new order intakes and cash flow problems," Stanbic Bank said in commentary accompanying the survey. "The decline in new orders signalled by the survey was only…

Sep

2020

By The African Mirror

South Africa’s Absa PMI expands on easing lockdown

BUSINESS

South Africa’s seasonally-adjusted Absa Purchasing Managers’ Index (PMI) expanded in August as an easing of the coronavirus restrictions lifted business activity and sales. The index, which gauges manufacturing activity in Africa’s most industrialised economy, rose to 57.3 points in August from 51.2 points in July, staying above the 50-point mark that separates expansion from contraction. “The improvement in demand was not only due to South Africa moving to a lower lockdown level, but was also supported by an uptick in export orders,” Absa said in a statement. South Africa imposed a strict coronavirus lockdown in late March but has since…