Workers at a construction site in Nairobi. The construction industry grew by 18.9 per cent in the second quarter of 2014. PHOTO | FILE
What you need to know:
The country's economy expanded by 5.8 per cent during the second quarter of 2014 “compared to 7.2 per cent recorded during a similar quarter of 2013”.
Construction, manufacturing and financial services continue to show strong growth according to the latest estimates of Kenya’s national output.
Data put out by the national bureau of statistics Monday shows the country's economy expanded by 5.8 per cent during the second quarter of 2014 “compared to 7.2 per cent recorded during a similar quarter of 2013”.
The Kenya National Bureau of Statistics says this growth in Gross Domestic Product (GDP) was mainly due to “robust growth” in construction (18.9 per cent), manufacturing (9.1 per cent) and financial services & insurance (8.3 per cent).
Other areas that had growth include wholesale and retail trade (6.8 per cent), and information and communication (6.4 per cent).
Recent revision of national accounts showed that the economy was some 15 to 25 per cent larger than previously thought for each of the last eight years.
PAYE Tax Calculator
Note: The results are not exact but very close to the actual.
