Dominican Republic: Economic activity expands at fastest pace since May in November
Economic activity rose 13.1% in year-on-year terms in November, which followed October’s 9.7% increase. November’s result marked the best reading since May.
Comparing the growth breakdown for November to October, local manufacturing, manufacturing in free trade zones, and construction expanded at a substantially speedier pace. Services sector growth also increased, albeit less significantly, while agricultural sector growth slowed somewhat and the mining sector fell deeper into contraction.
Meanwhile, annual average economic activity growth rose to 11.2% in November (October: +9.6%).
Although year-on-year growth prints will fall going forward on a tougher base effect, underlying momentum should remain robust next year, amid continued progress on the vaccination rollout at home and abroad, higher tourist arrivals and supportive fiscal policy.