Economic activity saw a decline in February
March 27 2025, 15:06
In February of this year, the economic activity index grew by only 1.5%. This follows January’s 7.1% growth, which was a significant slowdown. Aggregate growth for January-February also slowed to 4.1%.
What is particularly troubling is the cost at which economic activity has experienced this downturn. Compared to February last year, industry and foreign trade turnover saw substantial declines in both February alone and the January-February period overall. In February, industry shrank by 26.6% and foreign trade plummeted by 61%. Instead, construction and services—despite their unstable foundations—contributed modestly to some growth.
The dynamics of the economic activity indicator over the past 12 months suggest a continuation of these recessions. To address this alarming trend, the expansion and development of external economic opportunities are more than important. However, this effort should focus more on optimizing existing opportunities rather than pursuing new, unpromising directions.
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