Record fall in business morale deepens concern about economy

A fruits vendor in Kisii. A recent survey conducted by Stanbic Bank found that agriculture, wholesale, retail, and services sectors have continued to declined. [File, Standard]

The private sector is facing increasing headwinds, with a record decline in business morale, raising concerns about the country's economic outlook.

A recent survey conducted by Stanbic Bank found that businesses have frozen hiring and are increasingly fearful of job losses as consumer demand remains weak with the majority of businesses fretting about their future.