26 December 2012

Kenya: Economy Grows in Third Quarter

Photo: The East African
Nairobi shoppers (file photo): Consumers still suffering despite inflation going down.

Kenya's economy increased by 4.7 percent in the third quarter of 2012 compared to a 4 percent growth recorded in the same quarter last year.

According to the National Bureau of Statistics, the growth has been attributed to a strong performance in the Agriculture, Forestry, Fishing, Manufacturing, Transport, Communication and Electricity industries. Construction, Hotels and restaurants, Mining and Quarrying performed poorly in a period characterized by low inflation rate, high interest rates and stable Exchange rate of the shilling against major currencies.

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