The Economic Survey, published this Thursday, March 17, the National Statistics Institute (INE) concludes that the economic climate indicator continues to grow, but at a weaker pace for the second consecutive month. Between November and January, it rose from 2.7% to 2.3%, influenced by the evolution of current consumption. This month, the investment “significantly slowed, mainly as a result of the construction component,” explains the INE.
With regard to consumption, the feeling is nearly stagnant since April last year. Already quantitative indicators show a weaker growth, despite the consumption of durable goods have gone to accelerate in January. The purchase of automobiles continues to grow at double digits.
“It should be noted that the indices of industry turnover and services recorded negative nominal variations in January, less pronounced than in the previous month, which may reflect mostly negative price changes,” notes yet the institute. “In the case of industry, the change in its price index remained negative and the industrial production index, although decelerating, maintained a positive growth in January. In December and January, the construction production index and public works accentuated its decline. “
on the other hand, the economic climate, which lost momentum between September and January, returned to give good signals in February, with a slight increase of 0.6% to 0.7% . The indicator results from surveys of business and shows that trade came out of negative territory and stalled, while construction, while still very negative, has a slightly better result.
(News updated at 11:35 am)
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