ケニア - 製造業PMI

The Stanbic Bank Kenya PMI stood at 53.2 in November 2019, unchanged from the previous month, signalling a solid improvement in the health of the Kenyan private sector. Output grew at the fastest pace in four months while new orders expanded at the slowest rate in six months. Export orders, however, increased at quickest rate in 20 months, due to greater demand from European customers. Meantime, employment rose at a solid pace and broadly similar to the prior month. Stocks of purchases also increased, although the rise was the weakest since February. On the price front, input price inflation fell to a 27-month low, as companies reported only a modest increase in purchase prices and a slight uptick in staffing cost. Lastly, confidence weakened to a 32-month low amid reduced optimism for the future.

The Stanbic Bank Kenya PMI decreased to 53.2 in October 2019 from 54.1 in the previous month, signalling a solid improvement in the health of the Kenyan private sector, albeit slightly softer than in the prior month. Output expanded only marginally and new orders growth slowed amid cash circulation issues. Export orders, however, increased at a sharp and faster pace. Meantime, employment rose at a solid pace to ease capacity pressures arising from mounting backlogs of work. Stocks of purchases also increased, although the rise was the weakest since April. On the price front, input price inflation slowed to a two-year low, allowing selling charges to be cut for the first time since April. Lastly, confidence weakened to a ten-month low amid reduced optimism for the future.

The Stanbic Bank Kenya PMI jumped to 54.1 in September 2019 from 52.9 in the previous month, signalling a solid improvement in the health of the Kenyan private sector. Sales growth accelerated to a 13-month high, leading firms to expand their output at a quicker pace. Employment also increased, as firms remained highly optimistic for future activity. At the same time, cost pressures weakened to a near two-year low, while output price inflation also eased.

The Stanbic Bank Kenya PMI decreased to 52.9 in August 2019 from 54.1 in the previous month. The latest reading marked the fourth monthly improvement in a row, but was the softest since May, amid a sharp slowdown in output growth linked to continuing cash flow issues in the country. New orders rose sharply, though the rate of growth slowed marginally from July, in part due to exports rising at the weakest rate in the current 21-month sequence of expansion. Also, employment increased modestly, as staff cost pressures limited hiring. On a positive note, purchasing activity was up at the sharpest pace in 14 months. Regarding prices, overall input price inflation ticked down to the weakest since April, and selling prices were raised at a slower pace. Looking ahead, output expectations weakened but remained strongly positive.

The Stanbic Bank Kenya PMI decreased to 54.1 in July of 2019 from 54.3 in the previous month. The latest reading pointed to another strong improvement in the health of the private sector, mainly due to an even sharper rise in new orders, following another strong increase in demand during June. New export orders growth was sharp but softer than in the previous month and the rate of job creation eased from the two-and-a-half year high recorded in June. On the price front, overall input prices rose at a notable pace and output prices reported the quickest increase since last December. Finally, the outlook for future activity improved even further in July, beating June's previous record high due to investment and expansion plans at several firms.

The Stanbic Bank Kenya PMI rose to 54.3 in June 2019 from 51.3 in the previous month. The reading pointed to second straight expansion in private activity and the fastest since last August, as new orders and output advanced markedly. Both domestic and external markets contributed to the rise and an easing of cash flow issues over the past few months were also pointed as drivers. As such, employment growth was solid and reached 30-month high. On the price front, input inflation hit a 8-month high, mainly due to higher taxes, fuel hikes and increased input demand which forced a number of companies to raise their output charges in order to maintain profit levels. Looking ahead, business outlook improved to the highest in the survey history, linked to new government spending plans and firms' intentions to open new branches in the near future.