The Standard | by Wainaina Wambu
The Stanbic Kenya Purchasing Managers Index (PMI) fell to 50.9 in February from 53.2 in January, signalling the ongoing impact of the coronavirus pandemic on the economy that has seen households and businesses continue to cut spending.
“Kenyan firms continued to lower employee wages in February as the survey data indicated a fourth successive monthly decline in salary costs. Moreover, the rate of reduction accelerated to the fastest since July last year. Firms often commented on efforts to maintain their current workforce sizes amid a drop in revenues due to Covid…
