The Central Bank of Nicaragua published the Monthly Index of Economic Activity (IMAE) results for October 2024, reporting 2.6% year-on-year growth in the original series. The bank also reported 3.7% cumulative growth for January to October and 3.9% average annual growth. On a seasonally adjusted basis, the IMAE fell 0.2% month on month while increasing 1.4% versus October 2023, and the trend-cycle series rose 0.2% month on month and 1.5% year on year. In the original series, the strongest gains were in financial intermediation and related services (7.3%), other services (6.5%), hotels and restaurants (5.6%), trade (5.4%), manufacturing (4.6%), and transport and communications (3.2%), while declines were recorded in mining and quarrying (-15.3%), electricity and water (-6.4%), and public administration and defence (-0.7%). Primary sector growth reflected higher shrimp aquaculture and lobster catches (fishing and aquaculture, 2.6%), increased cattle, pig and poultry slaughter (livestock, 2.1%), and higher log extraction and new plantation areas (forestry and logging, 1.9%), while agriculture rose 0.1% as increased activity in coffee, tobacco and peanuts was offset by declines in other crops; the fall in mining was linked mainly to lower metallic mining extraction, and manufacturing growth was driven by higher production of textiles, harnesses, meats and beverages.
Central Bank of Nicaragua 2025-01-16
Central Bank of Nicaragua publishes October 2024 IMAE showing 2.6% annual growth and a 0.2% seasonally adjusted monthly fall
The Central Bank of Nicaragua reported a 2.6% year-on-year growth in the Monthly Index of Economic Activity (IMAE) for October 2024, with cumulative growth of 3.7% from January to October. Seasonally adjusted data showed a 0.2% month-on-month decline, while the trend-cycle series rose 0.2% month-on-month. Key sector gains included financial intermediation (7.3%) and other services (6.5%), while mining and quarrying saw a decline of 15.3%.