Kenya: GDP growth accelerates in Q1
June 30, 2016
In the first quarter of 2016, GDP increased 5.9% in annual terms, which marked a moderate acceleration over Q4’s 5.7% rise. The result matched the estimate made by the FocusEconomics panel. Compared to the previous quarter, GDP contracted a seasonally-adjusted 1.5% in Q1 (Q4: +3.2% quarter-on-quarter).
Looking at the details, Q1’s print was supported by broad-based increases in all sectors of the economy. Information and communication as well as electricity and water supply accelerated notably in Q1. Real estate as well as administration and support, which contracted in the fourth quarter, rebounded and swung to expansions in the first quarter. Lastly, accommodation and food services as well as construction decelerated from the impressive growth rates tallied in Q4. Nevertheless, both components still expanded at a solid rate in Q1 with the former tallying a double-digit expansion.