The Central Bank of Nicaragua published results for the Monthly Index of Economic Activity (IMAE) for November 2024, reporting 1.5% year-on-year growth in overall activity, 3.5% cumulative growth over January to November, and 3.6% growth on an annual average basis. The seasonally adjusted series rose 0.3% versus the prior month and 2.2% versus November 2023, while the trend-cycle series increased 0.3% month on month and 1.6% year on year. In the original series, the strongest gains were recorded in hotels and restaurants (10.8%), construction (6.8%), financial intermediation and related services (5.9%), trade (4.5%), transport and communications (4.2%), and fishing and aquaculture (2.3%). Declines were registered in mining and quarrying (-14.9%), manufacturing (-3.4%), and energy and water (-2.4%); the note attributes movements in primary activities to higher output and activity in crops such as coffee and sugarcane, higher aquaculture shrimp production and lobster and coastal shrimp catches, and greater timber extraction and new forest plantation areas, while the manufacturing contraction is linked mainly to lower production of petroleum derivatives, harnesses, and cigars.
Central Bank of Nicaragua 2025-02-11
Central Bank of Nicaragua releases November 2024 monthly economic activity index showing 1.5% year-on-year growth
The Central Bank of Nicaragua reported a 1.5% year-on-year growth in the Monthly Index of Economic Activity for November 2024, with a cumulative growth of 3.5% from January to November. Notable sector gains included hotels and restaurants (10.8%) and construction (6.8%), while declines were seen in mining and quarrying (-14.9%) and manufacturing (-3.4%). Primary activity movements were attributed to increased output in crops and aquaculture, despite a manufacturing contraction due to reduced production of petroleum derivatives and cigars.