{"id":17090,"date":"2020-11-05T20:58:59","date_gmt":"2020-11-05T20:58:59","guid":{"rendered":"https:\/\/www.africa-press.com\/kenya\/?p=17090"},"modified":"2020-11-05T20:58:59","modified_gmt":"2020-11-05T20:58:59","slug":"private-sector-records-best-month-since-january-2014","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/economy\/private-sector-records-best-month-since-january-2014","title":{"rendered":"Private sector records best month since January 2014"},"content":{"rendered":"<p><strong>AfricaPress-Kenya:<\/strong> October marked the best month for Kenya\u2019s private sector since the outbreak of the coronavirus pandemic. The month saw businesses continue to adapt to the effects of relaxed movement restrictions.<\/p>\n<p>The latest Purchasing Managers Index (PMI) from Stanbic Bank indicates that business output and the number of new orders recorded the fastest growth since the index begun in 2014.<\/p>\n<p>\u201cOperating conditions in Kenya\u2019s private sector improved to the greatest extent since the survey began in January 2014,\u201d states the report that collected input from 400 purchasing managers across the private sector.<\/p>\n<p>\u201cOutput and new order growth accelerated to the sharpest on record as lockdown restrictions, associated with the coronavirus disease eased during October.\u201d Businesses reported hiring more staff for the first time in eight months and the strongest since November 2019 according to the report.<\/p>\n<p>The firms attributing higher workforce numbers to a rise in workloads and efforts to reduce backlogs.<\/p>\n<p>However, the cost of inputs and raw materials rose to the highest point since 2015 according to the majority of those surveyed, a trend that has persisted for the past four months.<\/p>\n<p>\u201cThe latest increase was sharp and quickened from that seen in September,\u201d explained Stanbic Bank report in part. \u201cUnderlying data suggested that the rise in overall input prices was driven by higher purchasing and staffing costs, with the former recording the sharper increase.\u201d The report comes on the back of rising cases of Covid-19 infections reported across the country, as the government walks a tight rope in balancing economic recovery and introducing tougher restrictions to curb the spread of the pandemic.<\/p>\n<p>During a virtual conference with county and national government officials yesterday, President Uhuru Kenyatta blamed lax enforcement of health protocols for a surge in infections country-wide.<\/p>\n<p>\u201cThe bed occupancy for Covid-19 patients had gone down to 60 per cent which gave us the comfort to relax the restrictions in September and give our economy the chance to recover but this has since gone up to 140 per cent,\u201d said Mr Kenyatta during his address to the nation yesterday.<\/p>\n<p>The President stopped short of calling for a nationwide lockdown even as he announced new restrictions that are meant to slow further spread of the virus.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>AfricaPress-Kenya: October marked the best month for Kenya\u2019s private sector since the outbreak of the coronavirus pandemic. The month saw businesses continue to adapt to the effects of relaxed movement restrictions. The latest Purchasing Managers Index (PMI) from Stanbic Bank indicates that business output and the number of new orders recorded the fastest growth since [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":17097,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[1539,4482,5045],"class_list":["post-17090","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-covid-19","tag-private-sector","tag-stanbic-bank"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Private sector records best month since January 2014 - kenya<\/title>\n<meta name=\"description\" content=\"October marked the best month for Kenya\u2019s private sector since the outbreak of the coronavirus pandemic. The month saw businesses\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/economy\/private-sector-records-best-month-since-january-2014\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Private sector records best month since January 2014\" \/>\n<meta property=\"og:description\" content=\"October marked the best month for Kenya\u2019s private sector since the outbreak of the coronavirus pandemic. 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