The Stanbic Bank Kenya PMI fell to 34.8 in April of 2020 from 37.5 in the previous month, pointing to the biggest contraction in private sector activity since October of 2017, due to the coronavirus pandemic. Output fell at a record pace as firms were hampered by falling demand, input shortages and lockdown restrictions. Workforces were cut, with businesses also lowering wages in an effort to keep costs subdued as revenues deteriorated. Finally, despite lower expectations, Kenyan firms were still positive that the economy would grow over the coming year and many companies said that they would open new branches and increase spending on products, services and marketing once lockdown measures were lifted.
Manufacturing Pmi in Kenya averaged 51.93 points from 2014 until 2020, reaching an all time high of 57.70 points in December of 2014 and a record low of 34.40 points in October of 2017. This page provides - Kenya Manufacturing Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news. Kenya CfC Stanbic Bank PMI - data, historical chart, forecasts and calendar of releases - was last updated on June of 2020. source: Markit Economics
Manufacturing Pmi in Kenya is expected to be 45.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Manufacturing Pmi in Kenya to stand at 51.80 in 12 months time. In the long-term, the Kenya CfC Stanbic Bank PMI is projected to trend around 52.00 points in 2021 and 52.60 points in 2022, according to our econometric models.