Dominican Republic: Economic activity growth hits one-year high in December
January 30, 2018
The economy ended 2017 on solid footing, supported by accommodative monetary and fiscal policies and a dynamic tourism sector. Economic activity rose an impressive 7.4% from the same month a year earlier in December, according to the Central Bank’s monthly indicator for economic activity (IMAE, Indicador Mensual de Actividad Económica).
December’s figure was the highest in a year and came in above November’s revised 6.9% increase (previously reported: +6.8% year-on-year). A breakdown of the print revealed strong activity growth in the construction sector—reflecting increased public capital outlays—as well as in the financial services, and hotels, bars and restaurants subcategories. Meanwhile, annual average growth in economic activity inched down to 4.4% in December from 4.5% in November.
Author: Javier Colato, Economist