Kenya private sector activity slows in August, PMI shows

NAIROBI, Sept ‌3 (Reuters) - Kenya's ​private ​sector activity contracted for the first time ‌in three months in August, ⁠as supply constraints and cost pressures ‌led companies to ‌reduce output and purchases, a survey showed on Thursday.

• The ​Stanbic Bank Kenya Purchasing Managers' Index fell to ⁠49.7 from 51.3 in July, dropping below ​the 50.0 threshold that separates growth from contraction.

• High raw ​materials costs and ‌tight cash flows limited firms' ability to translate ⁠stronger demand into output, Stanbic Bank economist Christopher Legilisho said.

• ⁠Inflation rose slightly to 6.6% year-on-year ​in August from 6.5% in July, the statistics office said.

• Kenya's finance ‌ministry forecasts economic growth of 5.1% in 2027 ‌and 5.2% in 2028, ⁠up from an ‌estimated 5.0% ​this year.

(Reporting by George Obulutsa; Editing by Hugh ‌Lawson)

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