Dominican Republic

Dominican Republic Economic Activity November 2023

Dominican Republic: Economic activity grows at quickest pace in over a year in November

Economic activity increased 4.2% compared to the same month of the previous year in November, which was above October’s 3.6% expansion. November’s figure marked the best reading since September 2022.

On a seasonally adjusted monthly basis, economic activity rose at a faster rate of 1.1% in November (October: +0.3% mom). Meanwhile, annual average economic activity growth rose to 2.2% in November (October: +2.1%), pointing to an improving trend.

November’s result brought cumulative growth in January–November to 2.1% compared to the same period a year ago, down from the 5.1% expansion tallied in the first eleven months of 2022. Accordingly, GDP growth will likely have more than halved in 2023 from the previous year. In 2024, the economy will gain notable traction from 2023.

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