Private sector growth slows in January, PMI dips to 51.9

The country’s private sector momentum slowed at the start of the year as the rapid growth seen in late 2025 began to cool. According to the latest Stanbic Bank Purchasing Managers’ Index, business activity expanded for the fifth consecutive month in January, but at the slowest pace since last September. While manufacturing continues to see growth, the construction and retail sectors are facing a contraction in demand amid rising operational costs.