Kenya Economic Outlook
September 19, 2017Heightened political uncertainties following the Supreme Court’s decision on 1 September to invalidate the results of the 8 August election, along with a devastating ongoing drought, continue to damage Kenya’s economic prospects. Economic activity in the private sector was hit by a slump in demand amid escalating concerns over prolonged instability, reflected by a plunge in the PMI, which dropped to a record low in August as unemployment continues to climb. The nation was recently struck by fears of a famine as the drought—which has ravaged the north of the country since the start of the year—worsened, impacting an estimated 5.6 million people. On 7 September, the United Nations and its humanitarian partners made an appeal for USD 106 million to step up relief efforts. Moreover, with only a few weeks to go until a re-run of the election on 17 October, political turmoil is intensifying as infighting over who should be held accountable for last month’s tainted election embroiled the national electoral commission.
Kenya Economy Data
5 years of Kenya economic forecasts for more than 30 economic indicators.
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|Bond Yield||13.20||0.0 %||Oct 16|
|Exchange Rate||103.3||0.0 %||Oct 16|
|Stock Market||0.2||0.0 %||Oct 16|
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Kenya Economic Growth
September 19, 2017Political tensions and social unrest are likely to persist after the election. Combined with the adverse effects of the ongoing drought, they will continue weighing heavily on economic activity and likely keep growth momentum muted into next year. Our panelists expect GDP growth to slow to 4.8% in 2017. The panel downgraded its forecast for 2018 by 0.2 percentage points and projects growth of 5.3% in 2018.
Kenya Economic News
October 4, 2017
The composite Purchasing Managers’ Index (PMI), produced by IHS Markit and Stanbic Bank, dropped to 40.9 in September, down from 42.0 in August, and further below the crucial 50-point threshold that separates expansion from contraction in private sector activity.
September 29, 2017
Consumer prices declined 0.57% over the previous month in September, contrasting the 0.61% rise recorded in August.
September 19, 2017
Kenya’s economic ordeals continue to worsen following the Supreme Court’s decision on 1 September to nullify the results of the 8 August vote and hold an election re-run.
September 18, 2017
The Central Bank maintained the main policy rate at 10.00% at its 18 September monetary policy committee meeting, in line with market expectations.
September 5, 2017
The composite Purchasing Managers’ Index (PMI), produced by IHS Markit and Stanbic Bank, plummeted to an all-time low of 42.0 in August from 48.1 in July, falling further below the critical 50-point threshold that separates expansion from contraction, and indicating the worst deterioration in business conditions in the survey’s history.