Crates of Tusker Malt beer are seen on a conveyor belt at the East African Breweries Limited factory in Ruaraka factory in Nairobi, Kenya April 6, 2018.fell further in February as orders for new goods dropped for the first time in more than two years, a survey showed on Wednesday, as imports from China tumbled due to the coronavirus outbreak.
The Markit Stanbic Bank Kenya Purchasing Managers’ Index for manufacturing and services fell to 49.0 in February from 49.7 in January. Readings above 50.0 indicate growth. “Firms faced a shortage of raw materials owing to reduced imports from China due to the coronavirus outbreak,” said Jibran Qureishi, regional economist for East Africa atCompanies reported the first fall in new business orders since November 2017, the survey found, attributing the decline to hard-up consumers in the economy amid a wider cash crunch.
The finance ministry said in January economic growth probably slowed to 5.6% last year, compared with the government’s initial estimate of about 6%.– Detailed PMI data are only available under licence from IHS Markit and customers need to apply for a licence.
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Recession on all Africa but coronavirus in others. realDonaldTrump is here to conquer!
It's time for them to start producing their own and buying local.
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