Dominican Republic: Economic activity remains robust in July
September 5, 2018
The Dominican Republic’s economy continued to grow at an elevated pace in July, with economic activity rising 6.5% according to the Central Bank’s monthly indicator for economic activity (IMAE, Indicador Mensual de Actividad Económica). The figure was down from June’s stellar 7.3% expansion. July’s figure brings average growth for the first seven months of the year to 6.7%, likely the fastest pace in the CENAM region.
The economic expansion was broad-based, with the mining and quarrying, manufacturing in free trade zones and retail sectors performing particularly well in July. In contrast, the construction sector took a breather, with growth in the sector slowing. In H1, construction was a major growth driver thanks to energy, tourism and housing projects.
Author: Oliver Reynolds, Economist