Central Bank reports slight recovery in July and August


Staff member
Feb 20, 2019

The Central Bank reported on Tuesday, 29 September 2020 that July and August data reveal the economy is on the way to recovery.

A statement from the Central Bank highlights that the Monthly Economic Activity Indicator (IMAE) for August 2020 registered an inter-annual variation of -7.2%. This figure reflects an improvement over the -8.8% observed last July and the -8.5% corresponding to the January-July period.

The Central Bank highlights that two-thirds of the IMAE result in August (4.9 percentage points of the variation of -7.2%) is explained by the contraction in the activity of hotels, bars and restaurants, as a consequence of the slowdown of this sector, which has been severely affected by the pandemic. Airports in the Dominican Republic were closed from March to July. And a 5pm curfew until August kept most restaurants doing minimal business. Curfew is now 9pm to...

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