GDP SWELLS 5.9PC IN Q1 BUOYED BY TOURISM

Chefs at the Tribe Hotel prepare a meal for guests. The accommodation and food services sector expanded by 12.1 per cent in the first quarter of 2016 compared to a contraction of 11.4 per cent in the previous period. FILE PHOTO | NATION MEDIA GROUP 

By GEORGE OMONDI

A rebound in the hospitality segment has handed Kenya its best first quarter economic performance in five years, data published by the Kenya National Bureau of Statistics (KNBS) shows.

The economy expanded by 5.9 per cent in the first quarter of the year compared to 5 per cent the same period last year.
That growth level is only second to that recorded in the first quarter of 2011 when the country recorded a high growth of 7.6 per cent.
Kenya recorded a first quarter growth of 4.7 per cent in 2012, 5.8 per cent in 2013 and finally dropped to 4.7 per cent in the first three months of 2014.
The KNBS data shows all sectors of the economy posted positive growths during the first quarter of 2016.
"The most notable improvement was a rebound in activities of accommodation and food services which expanded by 12.1 per cent in the period under review compared to a contraction of 11.4 per cent during the same quarter in 2015," the national statistics body said in a statement.
The KNBS data shows agriculture, transport and mining also recorded improved growths during the quarter as manufacturing, construction and finance slowed down.

CREDIT: NATION