Kenya Macroeconomic Review

Kenya Macroeconomic Review
According to Kenya National Bureau of Statistics (KNBS), Kenya’s economy expanded by 6.3% in Q2’2018, higher than 4.7% in Q2’2017. This was due to (i) recovery of agricultural sector, which recorded a growth of 5.6% due to improved weather conditions, (ii) improved business and consumer confidence, and (iii) increased output in the real estate, manufacturing, and wholesale & retail trade sectors, which grew by 6.6%, 3.1% and 7.7% respectively. For a more comprehensive analysis see the Q2’2018 Quarterly GDP Review and Outlook note

During Q3’2018, we tracked Kenya’s GDP growth projections for FY’2018 released by 15 organizations, that comprised of research houses, global agencies, and government organizations. The average GDP growth, including our projection of 5.5% as at Q3’2018, came in at 5.5%, unchanged from average projections released in Q2’2018. The common view is that GDP growth will improve in 2018, from 4.9% in 2017, generally due to (i) recovery in the agriculture sector on the back of improved weather conditions, and (ii) improvement in the business environment following easing of political risk caused by the prolonged political impasse over the 2017 presidential elections.

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Source | Cytonn

 

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