Leading Economic Indicators – August 2024

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Statistical Releases
Leading Economic Indicators
September
2024

Overview

In August 2024, the Kenyan Shilling appreciated against the US Dollar, Tanzanian Shilling, and Ugandan Shilling but depreciated against the Sterling Pound and Euro. The Central Bank of Kenya lowered its benchmark interest rate from 13.00 per cent to 12.75 per cent, while the average yield on 91-day Treasury Bills dropped to 15.85 per cent. The Nairobi Securities Exchange showed positive trends, with the NSE 20 Share Index rising and equity turnover increasing. Agriculture sector faced setbacks, with declines in canes deliveries, coffee and tea exports, however, retail prices for maize and beans decreased. Trade volume declined, with China and the UAE as the leading sources of imports, while Uganda and Pakistan were the primary export destinations. The telecommunications sector thrived, as mobile money transactions increased significantly. In energy sector, local electricity generation saw a minor drop, but overall supply rose due to higher imports, boosting KPLC. Manufacturing sector experienced mixed results, with sugar production declining while soft drink output soared. Tourism grew, with an increase in visitor arrivals at major airports.
Leading Economic Indicators – August 2024

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