The Imacec result was affected by the increase in service activities and the fall in the production of goods.
The Central Bank reported this Friday that the Monthly Index of Economic Activity (Imacec) for February 2022 grew 6,8% compared to the same month of the previous year. It was about the smallest expansion in almost a year; it was also below market projections.
“The seasonally adjusted series fell 0.7% compared to the previous month and increased 6.0% in twelve months. The month registered the same number of business days as February 2021,” the issuing institute detailed in a statement.
The Imacec result was explained by the increased service activities.
The trade also contributed positively to the result for the month, while the production of goods fell, mainly influenced by the mining.
For its part, added the Bank, “the fall of the seasonally adjusted Imacec was explained by all its components, highlighting the decrease in services.
production of goods
The production of goods fell 4.5%, a result explained by the performance of mining, which registered a decrease of 6.4% and, to a lesser extent, by the 2.6% drop in the manufacturing industry.
Meanwhile, the rest of goods group grew by 0.6%, said the Central Bank.
In seasonally adjusted terms, the production of goods fell 0.5% compared to the previous month. This result was mainly determined by the decline of the manufacturing industry.
Trade
Commercial activity grew 5.5%, driven mainly by the retail sales in specialized establishments clothing, footwear and household equipment and in supermarkets, and, to a lesser extent, by the automotive trade.
Meanwhile, seasonally adjusted figures show a drop of 0.5% compared to the previous month, a result mainly explained by the performance of wholesale trade.
Services
Services grew 14.6%, a result explained by the performance of Personal services. They also contributed to the result of the grouping, the transportation, business services, and restaurants and hotels.
According to figures adjusted for seasonality, service activities fell 1.2% compared to the previous month, the issuing institute concluded.