Kenya's private sector activity contracted in August but at a slower pace than the previous month, with improved performance in the manufacturing and wholesale and retail sectors cushioning that of agriculture, construction and services, a survey showed on Wednesday.
The Stanbic Bank Kenya Purchasing Managers' Index rose to 49.4 in August from 46.8 in July, which was a year-low. Readings above 50.0 indicate growth in business activity, while those below that signal contraction.
"Lower output was observed in the agriculture, construction and services sectors. However, expansions in manufacturing and wholesale & retail led to a much softer downturn in overall activity compared to July," Stanbic said in comments accompanying the survey.
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