Gross Domestic Product and Balance of Payments Third Quarter 2014

3GDP2014Kenya’s economy is estimated to have expanded by 5.5 per cent during the third quarter of 2014 compared to a revised growth of 6.2 per cent in the same period of 2013 The growth was mainly supported by strong expansions of activities in construction; finance and insurance; wholesale and retail trade; information and communication; and agriculture and forestry.

All the sectors of the economy recorded positive growths except accommodation and food services (hotels and restaurants) which has consistently been on the decline since last year. During the quarter, most of the macroeconomic indicators remained relatively stable. The Kenya Shilling exchanged at an average of 88.3 against the US dollar compared to KSh 87.3 recorded in 2013. Similarly, the Shilling was stable against the Euro, Uganda and Tanzania Shillings but appreciated significantly against the Yen and South African Rand. On the other hand, the Kenya Shilling depreciated considerably against the Sterling Pound to exchange at an average of KSh 148.6 compared from an average of KSh 135.3 during the same quarter of 2013.

During the quarter under review, inflation averaged at 7.54 per cent, which was slightly higher than the Central Bank’s target of between 2.5 to 7.5 per cent, in comparison to an average of 6.99 per cent during a similar quarter last year.
The rise in inflation was mainly on account of increase in prices of food and beverage and transport costs in the months of July and August. However, inflation eased downwards during the month of September. During the review period, transport charges went up despite the fall in the international oil prices. Average Murban ADNOC crude oil prices (US$/barrel) decreased by 6.4 per cent during the review quarter compared to the same quarter of 2013.

Download Gross Domestic Product and Balance of Payments Third Quarter 2014

Leading Economic Indicators November 2014

LEI112014The Leading Economic Indicators for the month of November 2014 highlights trends in Consumer Price Indices (CPI) and inflation, interest rates, exchange rates, international trade, agriculture, energy, manufacturing, building and construction, tourism and transport. 

Consumer Price Index (CPI) dropped from 151.92 points in October 2014 to 151.85 points in November 2014. The overall rate of inflation declined from 6.43 per cent to 6.09 per cent during the same period. In November, the Kenyan Shilling appreciated against all the major currencies except the US dollar and the South African Rand.

The average yield rate for the 91-day Treasury bills, which is a benchmark for the general trend of interest rates, rose to 8.67 per cent in October 2014 from 8.35 per cent in September 2014. The inter-bank rates dropped to 6.76 per cent during the period. The Nairobi Securities Exchange 20 share index dropped from 5,195 points in October 2014 to 5,156 points in November 2014, while the total number of shares traded increased from 506 million to 666 million shares during the same period.

The total value of NSE shares traded decreased from KSh 19.29 billion to KSh 14.34 billion over the same period. Broad money supply (M3), a key indicator for monetary policy formulation expanded from KSh 2,251.76 billion in September 2014 to KSh 2,260.02 billion in October 2014. Gross Foreign Exchange Reserves dropped from KSh 845.5 billion in September 2014 to KSh 813.7 billion in October 2014. Net Foreign Exchange Reserves fell from KSh 448.4 to Ksh 420.1 billion over the same period. Download Leading Economic Indicators  November 2014

 

CPI and Inflation Rates for December 2014

cpi122014Kenya National Bureau of Statistics hereby releases Consumer Price Indices (CPI) and inflation rates for December 2014. These numbers have been generated using data collected during the second and third weeks of the month under review. The prices were obtained from selected retail outlets in 25 data collection zones located in 13 urban centers.

The CPI increased by 0.43 per cent from 151.85 in November to 152.51 in December 2014. The overall inflation rate stood at 6.02 per cent in December 2014. Download…

KNBS Holds Microdata Workshop

nadawksKenya National Bureau of Statistics held a workshop on microdata outreach and advocacy. The two-day activity themed Bringing together users and producers of data, aimed at emphasizing collaboration between users and producers of data.

A Microdata Outreach and Advocacy workshop offers a unique opportunity for data producers to promote users’ awareness of data availability, increase their capacity to use data, and encourage users to improve production and management of their data. This collaboration is an effort to identify appropriate dissemination systems, which will guarantee data users seamless availability of data, and in a variety of platforms to meet their needs.

While giving the key note address, Mr. Chege Muchiri, Ag. Director of Administration at the Ministry of Devolution and Planning (State Department of Planning) reiterated the right of citizens to information, as supported by the Constitution. In keeping with this constitutional provision, “it is imperative that all players in data production should always aim at safeguarding the right to information”.

KNBS dissemination systems have evolved from traditional to digital methods. The Bureau has partnered with development partners to develop and customize available global platforms to suit Kenyan standards. Such partnership has resulted in Keninfo, Kenya Data portal systems, supported by UNICEF Kenya Country Office and African Development Bank (AfDB). Through facilitation by UNFPA, KNBS shares data with the public through the Integrated Multi-Sectoral Information System (IMIS). The International Household Surveys Network (IHSN) developed the Kenya National Data Archive (KeNADA). The Bureau is also in partnership with Information Communication and Technology Authority (ICTA). “All these efforts are meant to respond to the Mandate of KNBS, the Constitution of Kenya, Kenya Open Government Partnership (OGP) and the Statistics Act, 2006” KNBS Director General, Zachary Mwangi said.

Participants included KNBS, PARIS21, Digital Divide Data, Institute of Economic Affairs, World Bank, KIPPRA, Ministry of Education, Ministry of Health, Civil Registration Department, University of Nairobi and African Population and Health Research Centre (APHRC).

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