Leading Economic Indicators September 2013

  • lei092013Consumer Price Index (CPI) rose from 140.29 points in August 2013 to 142.82 points in September 2013. The overall rate of inflation increased from 6.67 per cent to 8.29 per cent during the period. The Kenyan shilling depreciated against all major currencies except the US dollar and Japanese Yen exchanging at an average of KSh 87.41, KSh 138.54, KSh 116.67, KSh 88.14, KSh 8.77, KSh 29.41 and KSh 18.48 against the US dollar, sterling pound, Euro, Japanese Yen, South African rand, the Ugandan and Tanzanian shilling respectively, as at the end of September 2013.
  • The average yield rate for the 91-day Treasury bills, which is a benchmark for the general trend of interest rates, decreased from 10.03 per cent in August 2013 to 9.58 in September 2013. The inter-bank rates declined from 8.96 per cent to 7.82 per cent during the period. The Nairobi Securities Exchange share index (NSE 20) went up from 4698 points in August 2013 to 4793 points in September 2013, while the total number of shares traded decreased from 670 to 489 million shares during the same period. The total value of NSE shares traded dropped from KSh 20.8 billion to KSh 10.1 billion. Broad money supply (M3), a key indicator for monetary policy formulation, increased from KSh 1,850.0 billion in August 2013 to 1,862.0 billion in September 2013. Money and Quasi-money (M2) expanded from KSh 1,575.2 billion to KSh 1,593.4 billion over the same period. Gross Foreign Exchange Reserves increased from KSh 684.6 billion in August to KSh 695.2 billion in September 2013. Net Foreign Exchange Reserves decreased to KSh 374.5 billion over the same period.

Leading Economic Indicators August 2013

  • Consumer Price Index (CPI) rose from 139.87 points in July 2013 to 140.29 points in August 2013 while the overall rate of inflation increased from 6.02 per cent to 6.67 per cent during the same period. The Kenyan Shilling depreciated against all major international currencies except the South African rand. The Kenyan shilling exchanged at an average of KSh 87.49, KSh 135.47, KSh 116.51, KSh 89.39, KSh 8.69, KSh 29.48 and KSh 18.50 against the US dollar, sterling pound, Euro, Japanese Yen, South African rand, the Ugandan and Tanzanian shilling respectively, as at the end of August 2013.
  • The average yield rate for the 91-day Treasury bills, which is a benchmark for the general trend of interest rates, increased from 5.92 per cent in July 2013 to 10.03 in August 2013. The inter-bank rates rose from 7.99 per cent to 8.96 per cent during the period. The Nairobi Securities Exchange share index (NSE 20) dropped by 1.87 per cent from 4,788 points in July 2013 to 4,698 points in August 2013, while the total number of shares traded increased from 616 to 670 million shares during the same period.
  • The total value of NSE shares traded went up from KSh 11.2 billion to KSh 20.8 billion. Broad money supply (M3), a key indicator for monetary policy formulation, increased from KSh 1,835.5 billion in July 2013 to 1,849.7 billion in August 2013. Money and Quasi-money (M2) expanded from KSh 1,553.7 billion to KSh 1,575.2 billion over the same period. Gross Foreign Exchange Reserves deflated from KSh 703,803 Million in July to KSh 684,659 Million in August 2013. Net Foreign Exchange Reserves decreased to KSh 378.8 billion over the same period. Download..

Gross Domestic Product( Second Quarter 2013)

2qgdp2013Kenya’s economy is estimated to have expanded by 4.3 per cent which was slightly slower than the growth of 4.4 per cent experienced during the same quarter of 2012.

  • The second quarter of 2013 was characterized by low inflation rate, which averaged at 4.37 per cent compared to an average of 11.78 per cent that prevailed during the second quarter of 2012. The ease in the inflationary pressure was mainly on account of lower food and fuel prices as well as a stronger shilling. The Kenya shilling strengthened against all its major trading currencies except the euro during the review period compared to the same period of 2012. The most notable gains being against the Japanese Yen and the South African Rand. A 100 Japanese Yen exchanged at an average of KSh 85.65 during the review quarter compared to KSh 100.73 in the second quarter of 2012.
  • International oil prices declined during the quarter under review compared to the first quarter of 2013 but nevertheless remained relatively higher than the levels reached during the second quarter of 2012. Interest rates dropped significantly during the second quarter of 2013 compared to the same quarter of 2012. Inter-bank rates recorded the most drastic drop from 16.84 during the second quarter of 2012 to 7.41 in the quarter under review. Average Yield Rates 91 – day Treasury Bills averaged at 8.68 during the review quarter down from 12.43 recorded in the second quarter of 2012. Read More

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