The manufacturing industry continues to grow but at a slower pace.
This behavior is explained by the greater productive activity of the companies that make up the definitive regime highlighting plastic products, chemical substances, bakery products, and in companies of special regimes for the manufacture of medical devices and to a lesser extent food products.
In spite of this, the manufacturing industry, with a variation of 2.9%, explained in May the 16% of annual growth of the Monthly Index of Economic Activity (Imae), becoming the second industry of greater contribution to the growth rate of this indicator.
According to Francisco Gamboa, executive director of the Chamber of Industries, the current variation is slightly lower than that observed a month ago (3%) and the lowest of the year, and it is the first time in 2017 that the rate is lower than the previous month.
Manufacturing activities in Special Regimes are those that drive growth more strongly than those outside special regimes, despite the fact that Special Regimes are decelerating more.
In other words, most companies grow at a very low rate, and those that have been dynamizing the sector, grow less and less.
In May, the Imae cycle trend series reflected an interannual variation of 3.9%, slightly higher than the same rate of the previous year (3.8% May 2016).
For the second consecutive month, the growth of production accelerated. Average growth stood at 3.8% in May, while a year earlier it stood at 4.6%.
Most activities showed positive variations and even some with rates above the average of the economy. Of the fifteen activities that make up the indicator, six accelerated and eight decelerated their growth compared to May 2016.
The performance of professional, scientific, technical, administrative and support services and the group of “other activities” stands out. Only electricity, water and sanitation services continue with negative variations.