Retail sales and industrial production show recovery in January

The rebound in the merchandise lines of motor vehicles and motorcycles, computer equipment and telecommunications, boosted the best performance.

Retail sales and domestic industrial production recovered in January, the National Statistics Department (Dane) revealed on Wednesday, figures that support expectations that the economy will perform better in 2018 compared to the previous year.

Retail sales rose 6.2% in January, compared to a contraction of 1.6% in the same month of last year and a 3.8% drop in December.

“The variation is mainly explained by the growth of the merchandise lines of motor vehicles and motorcycles, computer and telecommunications equipment for personal or domestic use and food and non-alcoholic beverages, which registered higher promotions, advertising strategies and the launching of new references” explained the Dane in a statement.

On the other hand, the industrial production of the country increased 1%, compared to the fall of 0.1% in January 2017 and the decrease of 0.8% in December. During the first month of this year, 20 of the 39 industrial activities reported positive variations in the real production of the manufacturing industry.

The Government has as a goal that the Gross Domestic Product (GDP) will expand by 2.7% this year, above the 1.8% that it marked in 2017.

* Reuters.

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