Industry in Kenya

Kenya Industry | Economic News & Forecasts

Kenya - Industry

Growth seems to have remained firm in the third quarter, on the heels of a robust second quarter. Private sector activity was likely more upbeat in Q3, as reflected by the PMI averaging higher compared to the prior quarter. In particular, the solid pace of job creation in the quarter ought to have supported household consumption. That said, the external sector likely dragged on overall growth as merchandise exports continued to contract. Turning to Q4, incoming data hints at weaker momentum: The PMI deteriorated, on average, in October–November compared to Q3 amid weakened business sentiment, which dropped to a 33-month low in November. Meanwhile, at the conclusion of its 18-22 November visit, the IMF praised Kenya’s recent economic performance and removal of the interest rate cap. It also hinted at further discussions for a new precautionary stand-by arrangement in early 2020, which would help cushion the economy from exogenous shocks.

Kenya - Industry Data

2013   2014   2015   2016   2017  
Industrial Production (annual variation in %)5.4  5.6  6.1  6.1  4.8  

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Kenya Industry Chart


Kenya Industry
Note: Industrial Production, annual variation in %
Source: Kenya National Bureau of Statistics

Kenya Facts

Value Change Date
Bond Yield12.200.0 %Dec 31
Exchange Rate101.40.05 %Jan 01
Stock Market0.40.0 %Jan 07

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Economic News

  • Kenya: PMI ticks up in December

    January 6, 2020

    The Purchasing Managers’ Index (PMI)—produced by IHS Markit and Stanbic Bank—came in at 53.3 in December, up from November’s 53.2 reading and thus climbing further above the 50-threshold that indicates an improvement in business conditions. New orders rose sharply in December amid increased referrals from clients as did new export orders on stronger demand from European markets.

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  • Kenya: Inflation rises to eight-month high in December

    December 31, 2019

    Consumer prices rose 0.90% over the previous month in December, up from November’s 0.41% increase and marking the highest reading since April.

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  • Kenya: Growth slows to two-year low in Q3

    December 31, 2019

    Year-on-year growth slowed to 5.1% in the third quarter of 2019, down from the second quarter’s 5.6% and marking the lowest reading since Q3 2017, according to Kenya’s Statistical Institute (KNBS). The third-quarter moderation largely reflected a broad-based slowdown in activity across all sectors.

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  • Kenya: PMI stable in November

    December 4, 2019

    The Purchasing Managers’ Index (PMI)—produced by IHS Markit and Stanbic Bank—came in at 53.2 in November, matching October’s reading, thus staying above the critical 50-threshold that separates expansion from contraction and signaling a healthy rate of growth in activity.

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  • Kenya: Inflation rises in November

    November 30, 2019

    Consumer prices rose 0.41% over the previous month in November, up from October’s 0.28% increase.

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