Business confidence in Kenya surges to an all time high
BY PETER KIRAGU
Kenya: The level of confidence that business executives have in the economy still remains extremely strong despite increased insecurity threats and dwindling tourism fortunes, a new survey by Standard Chartered Global Research shows. From the survey released last week, the business sentiment indicator for Kenya surged to a series high of 65.3 in September from 56 in August.
The survey polled up to 200 executives representing different sectors of the economy ranging from manufacturing, services, construction and agricultural firms to answer questions on how they feel about current and future economic conditions.
Respondents were asked whether business activity has increased, decreased, or remained the same, compared with the previous month. They were also asked about their expectations over the next quarter. Overall business conditions firmed to 73 in September (from 61.4 in August), with many companies reporting higher sales and orders.
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