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The Central Bank reported that the Monthly Index of Economic Activity (Imacec) for July 2020 fell 10.7% compared to the same month of the previous year.
The fall is less than the 12% projected by the market, which suggests that the worst of the crisis may have been left behind when compared to the contraction of the economy 12.4% in June, 15.3% in May and 14.1% in April.
The seasonally adjusted series grew 1.7% compared to the previous month and decreased 12.9% in twelve months. July 2020 recorded the same number of business days as July 2019.
He Imacec miner grew 1.4%, while non-miner fell 12.0%. The result of the month was impacted by the effects of the health emergency.
In this context, the most affected activities were services and construction, and, to a lesser extent, trade and manufacturing. In services, the drops in transport, restaurants and hotels, and business services stood out.
In seasonally adjusted terms, and with respect to the previous month, the mining Imacec increased 0.9% and the non-mining one did so by 1.8%.
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