Colyn @colin_dero - Twitter Profile

about 1 month ago

PERFORMANCE OF THE ECONOMY REPORT FOR JUNE 2026: There was continued improvement in the level of economic activity as shown by the high frequency indicators of economic activity. Both the Purchasing Managers’ Index (PMI) and the Composite Index of Economic Activity (CIEA) recorded improvements. The private sector remains highly optimistic about business conditions and the general outlook on the economy as indicated by the Business Tendency Index (BTI) which remained above the 50-mark threshold at 54.4 in June 2026. This optimism by the private sector is partly driven by improving prospects in domestic and external demand and a stable macroeconomic environment. The Shilling appreciated against all major currencies during the month, strengthening by 1.4 percent against the US Dollar, 2.8 percent against the Euro, and 2.6 percent against the British Pound Sterling. The appreciation against the US Dollar was largely driven by strong foreign exchange inflows from commodity exporters and offshore investors. Earnings from merchandise exports increased by 12.8 percent year-on-year to USD 1,346.12 million in May 2026, up from USD 1,192.87 million in May 2025. This growth was primarily driven by higher earnings from gold, tobacco and oil re-exports, electricity. However, export receipts experienced a 4.2 percent month-on-month decline from USD 1,405.14 million in April 2026, largely due to a drop in earnings from coffee and gold between April 2026 and May 2026. There was also a slight increase in the general price level of goods and services in June 2026, depicted by annual headline inflation which rose to 3.7 percent from 3.2 percent in May 2026. The increase was mainly driven by higher domestic fuel pump prices which also affected prices of some other goods and services. For more details👇👇 https://t.co/RsqW2IQUV8