Trade boosted economic activity by 12% in April

Trade boosted economic activity by 12% in April

After the publication of the figures for industry and commerce in the month of April, which left very favorable results with growth of 13.5% and 23.3%, the National Administrative Department of Statistics (Dane) delivered yesterday the bulletin of the Index of Monitoring of the Economy (ISE), which in line with these results showed a growth of 12.0% in the fourth month of the year.

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The director of Dane, Juan Daniel Oviedo, highlighted that the month of reference was dynamic, especially in the sectors of commerce, transportation, accommodation and food services; the public sector, health and education, and the manufacturing industries, which together contributed 8.3 percentage points (pps) to the total variation of the ISE.

In the case of trade, contribution was 4.7 pps, sa situation that according to the head of the statistical entity is related to the dynamics of tourism as a result of Holy Week, which boosted household spending, tourist packages and accommodation, as well as land and air transport.

Following this is the public sector, with a contribution of 2.1 pps. This, according to Oviedo, is driven by payroll adjustments in public sector entities and the hiring of the Registrar due to the electoral period, while in the health sector it was private services that drove the category.

In manufacturing, industries such as beverages and plastics contributed 1.4 pps to the change in the ISE for April.

The Dane also reported that in its series adjusted for seasonal and calendar effects, the growth of the ISE was 11.8% in the fourth month, slightly lower.

Likewise, April also left a considerable rebound compared to the previous month. “Mom-on-month growth has recovered significantly from the 0.2% we had seen in March, and it manifests itself as 1.8% month-on-month growth, when comparing value added between April 2022 and March 2022,” Oviedo said. .
By groups of activity, the primary sector, in which the branches of agriculture and extraction of mines and quarries participate, was the only one that presented a negative variation: -2.0%.

This, as Oviedo explained, is due to a fall, on the one hand in agricultural activitiesdue to the winter season and the costs of fertilizers and supplies that affected crops such as coffee and livestock products such as cattle and dairy production: but also due to mines and quarries, due to lower extraction of coal compared to April 2021.

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In secondary activities, there was a growth of 11.9%, explained by a growth of 14.4% in manufacturing activities and 10% in construction activities.

Finally in the services, or the tertiary Activities, the variation of commerce (28.1%), of the branch of information and communications, which increased by 17.5%, while the public administration grew in its activities by 14.7% during April, stood out in particular.


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