The monthly economic activity index (IMACEC) grew 3.8% in Marchcompared to the same month last year, the Central Bank reported on Friday, in a variation that exceeded market expectations and that marked a recovery after the slight contraction of February.
The de -stationalized series increased 0.8% compared to the preceding month and grew 2.9% in 12 months. The month recorded a business day more than March 2024.
“The IMACEC result was explained by the growth of all its components, highlighting the performance of goods production. Meanwhile, the increase in IMACEC in unstacted terms was determined by mining, “the Central Bank said in a statement. The non -mining IMACEC presented an annual growth of 3.8%, while in unstacheized terms it grew 0.1% compared to the previous month.
Analysts expected the expansion of the IMACEC to exceed 3% in March after the favorable performance that trade and industry had in the third month of the year was known, according to the INE sector indicators. The consensus in the Bloomberg survey pointed to an advance of 3.1%.
IMACEC analysis by activity
Production of goods. The production of goods grew 4.4%, a result that was explained by all its activities. He highlighted the performance of the rest of goods and the manufacturing industry, driven by fruit production and food production, respectively. Meanwhile, mining also grew due to greater copper extraction.
In unstacted terms, the production of goods presented a 1.3% increase compared to the preceding month, a result explained by the dynamism of mining.
Trade. Commercial activity presented an increase of 8.9% in annual terms. All its components presented positive results, highlighting the contribution of wholesale and retail trade. The first was driven by food and machinery and equipment sales. Meanwhile, in retail trade, sales made in specialized costume establishments grew, in large stores already through online sales platforms. For its part, the automotive trade registered higher vehicle sales.
Unseested figures showed a 0.3% growth compared to the previous month, influenced by the result of the automotive trade.
Services. The services increased 2.7% in annual terms, a result that was explained, mainly, by the performance of personal services, in particular, health. To a lesser extent, business services and transportation also positively influence.
Seasonality adjusted figures presented a 0.2% growth compared to the preceding month, explained by personal services.
The Central Bank also reported that, according to the national accounts diffusion calendar, The preliminary results of GDP corresponding to the first quarter of the year will be disseminated on Monday, May 19.
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