According to the monthly index of business activity (MIBA), GDP is expected to increase by 0.3% in the third quarter of 2019 (first estimate).

In the manufacturing industry, the business sentiment indicator stood at 95 in July, like in June. Industrial production rose moderately in July. The electronic equipment sector fared well while the automobile sector continued to trend downward. Business leaders expect industrial sector activity to continue to grow at the same pace in August.

In services, the business sentiment indicator stood at 100 in July, like in June. Service sector activity picked up slightly in July. While activity was dynamic in the legal and accounting and technical services sectors, the IT service sector stalled. Business leaders expect service sector activity to continue to grow at the same pace in August.

In construction, the business sentiment indicator stood at 104 in July, like in June. Construction sector activity bounced back in July, both in structural and finishing works. Order books continued to expand and the prices of quotes rose. Business leaders expect construction sector growth to return towards its long-term average in August.