Commercial activity fell and services, on the other hand, grew mainly due to the performance of personal services, particularly health.
The Central Bank reported this Thursday that the Monthly Index of Economic Activity (Imacec) July 2022 grew 1,0% compared to the same month of the previous year.
It was about the lowest performance in 17 months, but in line with what the market and the Government projected. Already in June the activity had shown its lowest growth since the first tranche of last year.
Yesterday, in addition, data from the INE revealed sharp falls in indices linked to industrial production and trade activity.
In detail, on the July Imacec, the issuing institute deepened that the seasonally adjusted series fell 1.1% compared to the previous month and increased 0.2% in twelve months. The month saw the same number of business days as July 2021.
The increase in Imacec was mainly explained by the service activities. By contrast, trade and mining fellpartially offsetting the previous result.
For its part, the fall of the Imacec in seasonally adjusted terms was affected by services and mining.
“The non-mining Imacec presented a growth of 2.1% in twelve months, while in seasonally adjusted terms, it fell 0.8% compared to the previous month,” said the Central Bank.
production of goods
“The production of goods fell 1.8%, a result explained by the performance of mining and industry, which presented variations of -6.4% and -3.9%, respectively. By contrast, the rest of goods presented a growth of 3.0%”the report stated.
In seasonally adjusted terms, the production of goods fell 1.1% compared to the previous month, influenced by the results of mining and industry. He partially compensated this result, the growth of the rest of the assets.
Trade
The commercial activity showed a decrease of 11.1%, result explained by all its components. They highlighted the lower retail sales in specialized clothing, footwear and household equipment establishments and in department stores, and wholesalers of machinery and equipment, and household goods.
Meanwhile, the seasonally adjusted figures showed a variation of -0.4% compared to the previous month.
Services
Los services grew by 6.3%result explained mainly by the performance of personal services, in particular of Health. He also highlighted the contribution of transport and business services.
“According to figures adjusted for seasonality, service activities presented a fall of 1.7% compared to the previous month. This result was influenced by lower education services”, concluded the Central Bank.