Very tough season for manufacturing firms, what does this say about our Kenyan Economy? And who are banks lending to, since the manufacturing sector seems to be headed in the wrong direction? Importers? home owners? GoK? Farmers?

Very serious questions

@dunkang;
Even the banks are struggling to grow profits.Most are reporting single digit growth in profits.
Those that are doing double digits it's because of the regional operations which are boosting them.
The kenyan economy is struggling and double digit growth is a tall order

@dunkang: That is the question.

Growth in (decent) housing is correlated to economic [jobs, income, etc] growth. And if manufacturing is weak, that's not a good sign. Agriculture is also stressed with low levels of coffee produced & exported even with high(er) prices. Tea is going to take a hit with low prices.

Kakuzi has reported poor earnings & says low tea prices hurt. I expect Williamson & Kapchorua to have results far poorer than 2012.

Sugarcane farming in Western/Nyanza is dying a slow but agonizing death.

We have very little extractive industries e.g. mining relative to the size of the economy.

The economic growth is as a result of CONSUMER CONSUMPTION... Unsustainable in the long-term!