The Central Bank explained that the result of the month continues to be influenced by the greater opening of the economy, the support measures for households and the partial withdrawals of AFP funds.
The Central Bank reported this Tuesday that according to preliminary information, the Monthly Index of Economic Activity (Imacec) for January 2022 grew 9.0% compared to the same month of the previous year.
The seasonally adjusted series fell 1.0% compared to the previous month and increased 7.5% in twelve months.
The month recorded one business day more than January 2021.
The market projected an expansion of economic activity of more than 10% for last month. In this way, the index would be starting to moderate its expansions compared to 2021when recovery streaks were registered -some historical- of two digits.
In its report, the Central Bank detailed that the Imacec result was explained “by the increased service activities and, to a lesser extent, by the tradean effect that was partially offset by the drop in the production of goods, in particular mining”.
The result of the month continues to be influenced by the greater openness of the economy, the support measures for households and partial withdrawals of pension fundsadded the issuing institute.
The fall of the seasonally adjusted Imacec was explained “by the performance of other goods, mining and commerce, a result that was partially offset by the increase in services.”
production of goods
The production of goods fell 2.6%, a result that was explained by the mining performance that registered a decrease of 6.0%and, to a lesser extent, due to the 0.5% drop in the rest of goods group.
The manufacturing industry, meanwhile, grew by 2.4%, partially offsetting the previous result.
“In seasonally adjusted terms, the production of goods fell 2.4% compared to the previous month. This result was determined, mainly, by the fall of the rest of goods and mining”, the Bank pointed out.
Trade
Commercial activity grew 8.4%, driven by all its components. They highlighted the sales of vehicles, spare parts and maintenance services, and retail sales of clothing, footwear and household equipment.
Seasonally adjusted figures show a fall of 3.2% compared to the previous month, explained mainly by retail trade and, to a lesser extent, by wholesale trade.
Services
The services grew 17.0%a result explained mainly by the performance of personal services, in particular of Health, followed by business. To a lesser extent, the transport and restaurants and hotels also contributed to the result.
According to seasonally adjusted figures, service activities grew 1.3% compared to the previous month.