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According to official data published National Statistical Office (ONE) from an Asian country.
However, the figure for the third month of the year was slightly below the most common forecasts of analysts, who had expected growth of 4%.
Of the three large sectors into which ONE divides the figure, production and supply of electricity, heat, gas and water grew the most (+5.2% year on year), followed by manufacturing (+4.2%). ) and, finally, mining (+0.9%).
The institution also released other statistics such as retail sales, a key metric for measuring the state of consumption, which confirmed the strength of the Asian giant’s economic recovery, rising 10.6%, well up from 3.5% the previous year. January and February, as well as to the forecasts of experts betting on growth of about 7.4%.
Other indicators
For its part, the official unemployment rate in urban areas at the end of February stood at 5.3%, down 0.3 points from the previous month’s level and within the maximum limit set by the authorities for this year of 5.5%.
For its part, fixed investment increased 5.1% year-on-year in the first quarter after increasing 5.5% during the first two months of the year, marking a decline in March that ONE preferred Express in in monthly terms (-0.25%).
At the same time, analysts expected that the accumulated figure for the first three months would show an increase of 5.7%.
Within this indicator, growth in spending on infrastructure (+8.8%) and manufacturing (+7%) continued to contrast with a fall in spending on real estate development (-5.8%).
ONE also released data on gross domestic product (GDP) for the first quarter, which showed an increase of 2.2% qoq and 4.5% year-over-year.
(As reported by EFE)
Source: RPP
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.