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Honduran Production Grows 5.3% in September

Article Summary:

The improvement of external trade flows and the favorable development in domestic economic activities boosted growth in domestic production.

Original Article Text From RevistaSumma:

Honduran production grows 5.3% in September

The Monthly Economic Activity Index (IMAE) had a cumulative growth of 5.3% during January-September 2011, over 3.1% in the same period last year.

During the period under analysis economists Central Bank ofbHonduras, the overall performance was driven by the dynamism of the banking and insurance activities (15.9%),Transport and communications (7.8%), trade (7, 3%), Agriculture, forestry and fishing (5.5%) and manufacturing(4.3%).

However, there were declines in various service activities(3.3%), Mining and quarrying (3.9%) and Construction (0.4%).The banking services continue to increase, contributing to this activity experienced a cumulative of 15.9%. Financial intermediation increased by 17.6%, reflecting the rise in lending for consumption (31.4%) and productive activities, such as manufacturing and agriculture, which recorded a growth of 6.5% and 21.7% respectively.

The increasing use of credit cards to purchase goods and services has influenced directed lending to finance consumption representing 49% of the total portfolio of new loans placed by the financial system in the analyzed period. On the hand the insurance business was up 4%,associated with higher provisioning, as well as by higher revenue from the contract and bond premiums. At the end of the third quarter of 2011, the construction industry showed a slight reduction of 0.4%, 16.1 points lower than in the same period in 2010.

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