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Investing.com -- Kenya’s private sector activity contracted in August but at a slower pace compared to July, according to a survey released Wednesday.
The Stanbic Bank Kenya Purchasing Managers’ Index (PMI) rose to 49.4 in August from 46.8 in July, which had marked a year-low.
A PMI reading below 50.0 indicates contraction in business activity, while readings above that threshold signal growth.
The improved August performance was supported by better conditions in the manufacturing and wholesale and retail sectors, which helped offset weaker activity in agriculture, construction and services sectors.
Despite the overall contraction, the August reading represents an improvement from the more severe downturn seen in the previous month.
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