Fuel cost dents July business productivity – Stanbic study
In July, fuel prices reached the regions of 6,000 for both diesel and petrol, the highest range for fuel over. Courtesy photo
Increasing inflationary pressures dented private sector business activity during July as the headline Stanbic Purchasing Managers’ Index (PMI) dipped below the threshold 50.0 no-change mark for the first time this year.
The PMI dropped from 50.9 recorded in June to 48.2 in July with firms scaling back their employment and purchasing activity and ending an 11-month sequence of expansion.
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