Economy starts on a wrong footing in 2017 as most indicators blink red

Bloomberg tracking performance of the shilling. As per the graph, the shilling weakened to 102.91 against the US dollar.(Photo: Courtesy)

As Kenyans celebrated their safe entry into the New Year, the economy slunk into 2017 with little fanfare as most micro-economic indicators blinked red.

All the major macro-economic indicators were not looking good with the Shilling weakening against the US Dollar, raising questions as to whether 2017 will be any better. As at December 30, 2016, the Shilling traded at 102.4. The Shilling generally suffered sustained loss against the greenback throughout the festive period starting from a high of 101.9 against the dollar on December 2, 2016 to finish the year at 102.4.