Optimism for the future of an economy that was picking up has waned amid the sixth wave of the novel coronavirus. To prevent the economy from slowing down again, the government needs to keep an eye on risks such as high commodity prices.
The preliminary quarterly estimate of real gross domestic product for October-December 2021 indicates an annualized 5.4% increase from the previous quarter, the first positive growth since April-June 2021.
Following the end of a state of emergency in September last year, private consumption, which accounts for more than half of GDP, rose a significant 2.7% from the previous quarter. Demand for previously sluggish services such as those related to eating out and travel accommodations has picked up, according to government data.
