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Economic activity fell 6.5% in November

According to an indicator prepared by consulting company Orlando Ferreres, economic activity in November increased by 6.5% compared to the same period in 2017, the worst year, and accumulated a 1.5% reduction in ten monthsSimilarly, with seasonal fluctuations, there was a monthly decrease in activity of 1.2% compared with the previous October, the report indicates.

"In November, the worst year decline will be recorded in GDP, a fall of 6.5% year on year. The result of the eleventh month was strongly driven by the dynamics of the industry, a segment of activity that reports a fall of more than 9%, ”the consultant explained, emphasizing the reduction in the commercial sector (10.8% compared to November 2017). ), which was mainly influenced by the decrease in its wholesale industry.

construction returned to position for the third consecutive month in negative terrain, with the fall of this opportunity by 5.3% compared with the same month of 2017. Agriculture and livestock, remaining in negative territory during the first nine months of the year, recorded the second consecutive positive variation, recording an inter-annual advance payment for November of 1.5%.

Detail agro growth was 3%Due to the improved outlook for the wheat campaign, while cattle activity registered a minimum positive deviation of 0.1% per year, according to the report. Thus, over the past 11 months, the sector registers 13.9% each. Electricity, gas and water supply showed a decrease in activity of 1%, this is the third month in a row with negative indicators.

During November Electricity demand is 1.2% on an annualized basis, caused by a decrease in demand from large users who buy directly on the wholesale electricity market, which fell by 8% per year. Commercial activity in November decreased by 10.8% compared with the same month in 2017, being the worst in a year and the seventh time in a row.

In particular, retail trade fell by 5.3%, while the wholesaler showed a decline of 16.3%, which was caused by a decline in imports. Industrial production registered 9.5% each year in November, comparing the worst annual record with September.

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