NAIROBI, Feb 4 (Reuters) – Kenya’s private sector activity grew but at a slower pace in January, hurt by slower expansions in the construction and wholesale and retail sectors, a survey showed on Wednesday.
The Stanbic Bank Kenya Purchasing Managers’ Index fell to 51.9 in January from 53.7 in December, the survey showed. Readings above 50.0 indicate growth in business activity, while those below that signal contraction.
“Sectoral differences were marked, with sales growth most often recorded among manufacturing firms. Conversely, those in the construction and wholesale and retail sectors saw demand fall outright,” Stanbic Bank said in comments accompanying the survey.
Kenya’s finance ministry projects 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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