Firms lay off for first time in 7 months on new Covid restrictions
Summary
The monthly Markit Stanbic Bank Kenya Purchasing Managers’ Index (PMI) shows that the job sheds the first since September coincided with the sharpest decline in orders since May last year as businesses scaled down operations.
Under the restrictions imposed in March but which have since been relaxed, Nairobi, Kiambu, Machakos, Kajiado and Nakuru were treated as one zone, with residents barred from travelling to other areas.
The State also imposed a night-time curfew, extended by two hours starting from 8pm to stem, to contain the third wave of Covid infections.
Kenya's private sector activity plunged in April, contracting for the first time in 11 months, after fresh restrictions were imposed to curb a third wave of COVID-19 infections, a survey showed on Wednesday.
By Reuters Staff
2 Min Read
A vendor arranges second-hand shoes for sale at an open stall during Good Friday, after the government banned gatherings amid concerns about the spread of coronavirus disease (COVID-19) at the Kibera slums in Nairobi, Kenya April 2, 2021. REUTERS/Thomas Mukoya/File Photo
NAIROBI (Reuters) - Private sector activity in Kenya fell to a nine-month low in March, as companies registered a slower pace of output growth and sales and rising fuel prices led to increased product costs, a survey showed on Wednesday.
The Markit Stanbic Bank Kenya Purchasing Managers’ Index (PMI) fell to 50.6 from 50.9 in February. The 50.0 mark separates growth from contraction.