The economic activity indicator slowed down between March and May, after accelerating in January and February, while the economic climate indicator decreased in May and June, after stabilizing in the previous month, the INE reported on Tuesday.
According to the Economic Synthesis of the National Institute of Statistics (INE), “the economic activity indicator, which summarizes a set of quantitative indicators that reflect the evolution of the economy, slowed down between March and May, after accelerating in January and February” . .
This indicator registered a interannual variation of 2.1% in May, compared to 3.8% in April.
According to the INE, “the short-term indicators (ICP) related to economic activity from the perspective of production, available for May, continue to point to high growth in nominal termswith an acceleration compared to the previous month.
“In real terms”, he adds, “there was an acceleration of construction and an increase in industry”, and “the month of May had one more working day than the same month, while April had two less, which may have contributed to the acceleration observed in indicators of uncorrected business days, such as billing indices”.
As for the economic climate indicator, which summarizes the balances of extreme answers to questions related to qualitative surveys of companies, “it decreased in May and June, after having stabilized in the previous month.”
In June, the economic climate indicator stood at 1.7%, after 1.8% in May and 2.0% in April.
According to the INE, the producer price index for the manufacturing industry registered an interannual variation rate of 25.7% in June (22.9% the previous month), registering the highest growth in the current series.
Excluding the energy component, this index increased by 16.3% year-on-year, also the highest growth in the series.
Largely reflecting this increase in prices, the conjunctural indicators of economic activity from the perspective of production, available until May 2022, continued to show high growth in nominal terms, accelerating compared to the previous month.
Source: Observadora
