GDP in Kenya
Kenya - GDP
Economy expands at slower rate in Q2 2022
Economic growth continued to lose steam in the second quarter of 2022, with GDP expanding a milder 5.2% year on year. The result came in below the 6.8% increase recorded in the prior quarter and was the softest since Q1 2021. Underlying momentum also moderated in Q2, as GDP clocked a 0.8% expansion in sequential terms, marginally down from the first quarter’s 1.0% seasonally adjusted quarter-on-quarter growth.
The slowdown in annual growth was partially due to an unfavorable base effect, as the economy grew 11.0% in Q2 2021. The mining and quarrying sector posted 33.5% growth in April–June, which was a marked slowdown from the 77.7% expansion recorded in the prior three months. Growth in the accommodation and restaurants sector also more than halved in the second quarter, to 22.0% (Q1: +56.2% yoy). Construction sector growth also moderated during the quarter (Q2: +5.8% yoy; Q1: +6.4% yoy), as did the transport and storage sector (Q2: +7.1% yoy; Q1: +7.8% yoy). Manufacturing activity growth softened to 3.6% in Q2, down marginally from the prior quarter’s 3.7% increase. Meanwhile, the all-important agricultural sector contracted at a sharper 2.2% annually in Q2 (Q1: -0.7% yoy), chiefly due to a severe drought.
FocusEconomics Consensus Forecast panelists see GDP growth at 5.5% in 2022, which is unchanged from last month’s estimate. Panelists forecast GDP growth to come in at 4.8% in 2023.
Kenya - GDP Data
|Economic Growth (GDP, annual variation in %)||5.7||5.9||4.8||6.3||5.4|
5 years of economic forecasts for more than 30 economic indicators.
Kenya GDP Chart
Source: Kenya National Bureau of Statistics
|Bond Yield||12.20||0.0 %||Dec 31|
|Exchange Rate||101.4||0.05 %||Jan 01|
|Stock Market||0.4||0.0 %||Jan 07|
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November 3, 2022
The Purchasing Managers’ Index (PMI)—produced by Stanbic Bank and S&P Global—moderated to 50.2 in October, down from September’s seven-month high of 51.7.
October 31, 2022
Inflation came in at 9.6% in October, which was up from September’s 9.2%.
October 11, 2022
Economic growth continued to lose steam in the second quarter of 2022, with GDP expanding a milder 5.2% year on year.
October 5, 2022
Inflation came in at 9.2% in September, up from August’s 8.5%.
October 5, 2022
The Purchasing Managers’ Index (PMI)—produced by Stanbic Bank and S&P Global—soared to 51.7 in September, up from August's 44.2.