Financial Sector Boosts Economic Activity

During August, the IMAE in Honduras registered a 2.4% year-on-year increase, largely because of the performance of financial intermediation, insurance and pension funds.

Friday, October 25, 2019

The economic activities with positive behavior were: Financial Intermediation, Insurance and Pension Funds, Mail and Telecom, Manufacturing Industry and Commerce, to a lesser extent contributed Private Construction and Electricity and Water, reported the Central Bank of Honduras (BCH).

The official report states that "... Financial Intermediation, Insurance and Pension Funds, grew 7.5% (6.8% in 2018), explained by the increase in the credit portfolio of financial sector institutions, which generated higher income from interest and commissions, plus commissions received for the use of credit and debit cards.

Manufacturing Industry, registered a 2.2% increase (3.6% to August 2018), derived from the positive behavior in the Manufacture of Textiles and Clothing (7.0%), before the greater demand of these products on behalf of the United States of America (USA), given the commercial tensions and the application of tariffs to China.

Electricity and Water Distribution increased 7.4% (4.9% in 2018), as a result attributed to the increase in electricity generation (7.8%), before the rise in national demand, which was covered to a greater extent with thermal sources (bunker, diesel and coal), to the detriment of hydroelectric and wind generation and lower imports. On the other hand, the distribution of water was 0.3% higher compared to the same period last year, despite the low levels recorded in the dams.

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More on this topic

Honduras: Economic Activity Increases to 3%

November 2019

During September, the IMAE registered a 2.7% year-on-year increase, mainly because of the performance of Construction and Commercial Activity.

At the end of the third quarter of the current year, the original IMAE series reached 2.7% cumulative variation (3.5% in the same period in 2018). Meanwhile, the trend cycle series showed a 2.2% year-on-year variation (3.8% in September 2018), reported the Central Bank of Honduras.

Trade and Construction Boost Economic Activity

July 2019

Economic activity in the country registered a 2.7% year-on-year increase up to May, an increase that is explained in part by the behavior of Trade in goods and services, and private Construction.

For the fifth month, the economic activities that stood out for their contribution were: Financial Intermediation, Insurance and Pension Funds, Post and Telecommunications, Commerce, Manufacturing Industry, Electricity and Water, and Private Construction, reported the Central Bank of Honduras.

Honduras: Economic Activity Increases 4%

November 2018

Because of the economic activity reported in the financial sector and the manufacturing industry, during September the IMAE registered a variation of 4% with respect to the same month in 2017.

The original IMAE series, accumulated up to September 2018, shows that the national production of goods and services (in volume terms) increased 3.7% (5.4% in 2017), outcome observed in the last three months.

Honduras: Economic Activity Increases 3.7%

October 2018

Partially explained by the economic activity reported in the financial sector, during August of this year the IMAE registered a variation of 3.7% compared to the same month in 2017.

Up to the eighth month of the current year, according to the behavior of the original series of the IMAE, short term indicator of the productive activity of the country, increased by 3.7% (5.2% in 2017).

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