GDP in Kenya
Kenya - GDP
Economy decelerates in Q1
In the first quarter of 2017, GDP expanded 4.7% in annual terms, down from Q4’s 6.1% growth. In seasonally-adjusted quarter-on-quarter terms, GDP expanded 1.8%, up from Q4’s 1.3%.
Q1’s figure was underpinned by a stellar performance in the construction sector, which grew 8.4% year-on-year. The sector was supported by heavy infrastructural development, in particular the construction of the Standard Gauge Railway (SGR) between Mombasa and Nairobi. In contrast, the agricultural sector contracted 1.1% year-on-year in Q1, as the severe drought which has hit the country in recent months affected the production of several staple food crops. The manufacturing sector chalked up a meager 2.9% year-on-year expansion in Q1, due to depressed agro-processing activities.
Looking ahead, growth should pick up as weather conditions return to normal and the agricultural sector recovers; in this sense, recent rains in the country bode well for food production in the months ahead. In addition, fixed investment should bounce back after shrinking last year, although the recent slowdown in private sector credit growth could hamper the extent of the rebound.
FocusEconomics Consensus Forecast panelists see GDP expanding 5.0% in 2017 and 5.5% in 2018.
Kenya - GDP Data
|Economic Growth (GDP, annual variation in %)||4.5||5.9||5.4||5.7||5.8|
5 years of economic forecasts for more than 30 economic indicators.
Kenya GDP Chart
Source: Kenya National Bureau of Statistics
|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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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.