Kenya Private Sector Growth Cools In January As Construction, Retail Weaken
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The Stanbic Bank Kenya Purchasing Managers’ Index (PMI) eased to 51.9 in January from 53.7 in December, remaining above the 50.0 threshold that separates growth from contraction in business activity.
Stanbic Bank said the survey pointed to stark sectoral differences, with manufacturing firms most often reporting sales growth, while construction and wholesale and retail businesses saw demand fall outright.
Kenya’s finance ministry expects economic growth to accelerate to 5.3% in both 2025 and 2026, compared with an estimated 4.7% in 2024.
The World Bank has a slightly more cautious view, projecting growth of 4.9% this year, up from a May forecast of 4.5%, and sees that pace holding over the next two years.
