Economics
Kenya in First Recession Since at Least 2000 on Virus Curbs
- Third-quarter GDP contracts 1.1% y/y on tourism, education
- GDP contraction in second quarter was the first in 12 years
This article is for subscribers only.
Kenya slid into a recession for the first time in at least two decades in the third quarter of 2020 as measures introduced by the East African state to slow the spread of the Covid-19 pandemic continued to hurt output.
Gross domestic product in East Africa’s biggest economy fell 1.1% compared with a year earlier, after shrinking a revised 5.5% in the second quarter, the Kenya National Bureau of Statistics said Thursday by email. The outcome matched median of three economists’ estimates in a Bloomberg survey.