July registered the highest activities for the private sector since COVID-19 hit

Activity in Kenya’s private sector rose at its fastest pace in a year last month on the back of a gradual easing of coronavirus lockdown measures, a survey showed on Wednesday.
The Markit Stanbic Bank Kenya Purchasing Managers’ Index (PMI) jumped to 54.2 in July, from 46.6 in the previous month, well above the 50.0 mark that separates growth from contraction. According to Jibran Qureishi, head of Africa Research at Stanbic Bank July’s level was the highest since June last year. Firms continued to shed jobs in July, the survey found, but a slower pace than in the previous months.