Updated Wed, August 3rd 2016 at 15:42 GMT +3Activity in Kenya's private sector rebounded in July as new orders rose and domestic demand remained solid, a survey showed on Wednesday. July's PMI reading was slightly below the series trend of 54.8 and Qureishi said recent increases in taxes could exert further cost pressure on firms. The Markit CFC Stanbic Kenya Purchasing Managers' Index (PMI) rose to 53.3 last month after falling to 51.5 in June, the lowest reading since the data series began in January 2014. But economists have said this may have been driven largely by public investment rather than private enterprise. "The chief driver of this rebound was a sharp rise in new orders.

Source: Standard Digital August 03, 2016 07:41 UTC