An increase in the cost of steel, fuel, paint and labour slowed down growth of the construction sector in the third quarter of last year.
The latest data released by the Kenya National Bureau of Statistics (KNBS) shows the industry grew modestly compared to a similar period last year mostly driven by rising cost of construction inputs as well as muted development in the level of credit extended to players.
The total value of construction activities in the quarter rose marginally to Sh205.05 billion up from Sh203.62 billion in the second quarter, compared to the impressive growth from Sh183.12 billion to Sh192.26 billion the previous year. “Performance of this sector was relatively slower in the third quarter of 2021 compared to the corresponding quarter of 2020,” said KNBS.
