Local managers remain optimistic and estimate the economic activity to further rise in all sectors in Jun-Aug, according to a survey of the National Institute of Statistics (INS).

The growth is projected to be stronger in retail, where new orders are seen to jump by 23% in the period. Manufacturing’s more moderate activity increase will be mainly backed by another robust rise in beverages production.

However, despite activity growth projections, manufacturing managers do not plan to hire in Jun-Aug, while in the other sectors the number of employees will increase only moderately. Prices are estimated to remain flat in services, yet inflation will further pick up strongly in retail. Moderate price increase expectations were reported in manufacturing and construction, according to the survey.

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