Dominican Republic: Economic activity picks up pace in June
August 7, 2018
The Dominican Republic’s economy continued to accelerate in June, with economic activity rising 7.3% according to the Central Bank’s monthly indicator for economic activity (IMAE, Indicador Mensual de Actividad Económica). The figure was up from May’s upwardly revised 6.7% growth (previously reported: +6.4% year-on-year) and signaled that the economy is still benefiting from monetary easing implemented last year.
The construction sector remained a key driver of growth, recording a strong 13.2% expansion. The sector’s performance was linked to private housing projects in the country. A series of projects underway in the tourism and energy sub-sectors also supported construction in June. Furthermore, activity in the free trade zones picked up, while the health and trade sub-sectors posted robust growth rates.
Dominican Republic GDP Forecast
Last month, FocusEconomics Consensus Forecast participants saw the economy growing 5.2% in 2018 and 4.5% in 2019.
Author: Oliver Reynolds, Economist