According to the INS, preliminary estimates of quarterly national accounts indicate that economic activity registered growth in gross domestic product in volume, adjusted for the impact of seasonal variations, of 0.2% during the first three months of the current year (January to March 2023), compared to the first quarter of 2022, that is to say in sliding or annual variation, slightly improving compared to earlier quarters.
In terms of quarterly variations and compared to the fourth and last quarter of 2023, the volume of GDP grew by 0.6%, while it had increased by nearly the same percentage in price of the previous quarter by 0.5%.
Economic growth profited from a recovery in activity in agriculture (+1.6%) and kept momentum in service activities (+1.9%). On the other hand, the industry and construction sectors recorded an annual decline of -5.0% and -6.8% respectively.
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