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Business confidence in the private sector improved to a 5 month high in July, a new report has shown / COURTESY

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Manufacturing Sector Contracts by 3.9pc in 2Q20 – KNBS

NAIROBI, Kenya, Oct 19 – The manufacturing sector reported a contraction of 3.9 percent in the second quarter of 2020 compared to an expansion of 4 percent in the same period of 2019. 

According to a report by Kenya Bureau of Statistics, the Manufacture of food which include beverages, meat and meat products among others recorded a contraction of 2.5 percent during the review period.

Notably, processing and preservation of meat; manufacture of bakery products; manufacture of tobacco products, manufacture of beer; all registered a contraction.

Similarly, non-food products contracted by 4.9 percent in the second quarter of 2020.

The statistics office says that this was evidenced by a contraction in assembly of motor vehicle and manufacture of galvanized iron sheets.

“Credit advanced to manufacturing sector expanded by 16.9 percent in the second quarter of 2020 compared to 8.6 percent growth in the corresponding quarter of 2019,” the report said.

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