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Kenya GDP Q3 2023

Kenya: GDP records fastest expansion since Q1 2022 in Q3

According to a preliminary reading, GDP growth improved to 5.9% year on year in the third quarter, from 5.5% in the second quarter. Q3’s reading marked the fastest increase since Q1 2022.

The manufacturing sector gained steam, growing 2.6% in Q3 (Q2: +1.4% yoy). Retail and wholesale trade sector growth also sped up to 4.8% in Q3, from the 4.2% expansion in the prior quarter, and Q3 growth in construction picked up to 3.8% (Q2: +2.6% yoy). However, transport growth waned to 2.8% (Q2: +3.0% yoy). In addition, the agricultural sector grew 6.7% annually in the third quarter, decelerating from the second quarter’s 8.2% increase.

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