Leading Economic Indicators – September 2024
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Statistical Releases
Leading Economic Indicators
September
2024
Overview
In September 2024, the Kenyan Shilling strengthened against the US Dollar and Tanzanian Shilling but weakened against other major selected currencies. The Central Bank held its benchmark interest rate at 12.75 per cent, and the NSE 20 Share Index rose, though equity turnover declined. In agriculture, coffee and cane deliveries decreased, with slight price gains for coffee and lower export volumes for coffee and tea, despite a rise in tea quantity, and cut flowers and vegetables exports. The energy sector saw declines in local and total electricity generation and reduced imports, while KPLC's sales declined. Trade contracted as both exports and imports fell. Uganda and the USA were the leading exports partners while China and the UAE were the leading imports partners. Telecommunications registered growth in mobile money subscriptions despite a decline in transactions. In manufacturing, sugar and milk intake increased slightly, while soft drink production and cement output declined. Visitor arrivals and Standard Gauge Railway passenger numbers fell, while SGR cargo revenue rose modestly despite reduced volumes.