Stanbic Bank’s PMI for March Hits a 26-Month High

Stanbic Bank Kenya Purchasing Managers Index (PMI) for the month of March touched a 26-month high of 55.70.

The print was uplifted by the output (25 percent-weight) which grew at the fastest pace in the survey history.

Favorable economic conditions and greater new work inflows were key factors behind output growth.

New orders (30 percent weight) recorded the highest growth in 15months buoyed by rising in new export orders.

The PMI averaged 54.43 in 1Q18 from 50.20 attained in 1Q17. The leading indicator, a barometer of private sector activity which accounted for 68.32 percent of Gross domestic expenditure in the 2012-2016 period, points to an improved GDP reading in 1Q18 compared to a similar quarter period last year.