Stanbic IBTC Bank has released its monthly Purchasing Managers Index, PMI report, which indicated that the private sector in December recorded the expansion in six months.
The report also showed that the private sector recorded an increase in new orders for the second consecutive month in December.
PMI readings above 50 index points represent a signal of an improvement in business conditions in the previous month, while readings below 50.0 show deterioration.
The report stated: “The headline PMI moved back above the 50.0 no-change mark for the first time in six months during December. At 52.7, the index was up from 49.6 in November and signalled a solid improvement in the health of the private sector, which was the most pronounced since January 2024. That said, rates of inflation remained elevated.
“New orders increased for the fourth time in the past five months, with the pace of expansion quickening to the fastest since May. Respondents noted improving client demand and rising customer numbers.”
