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Santo Domingo.- The Monthly Indicator of Economic Activity (IMAE) of the Dominican Republic registered an expansion of 3.9% in November, bringing the average growth of the first 11 months of 2024 to 5.1% compared to the same period in 2023, according to the Central Bank (BCRD). Key sectors driving this growth include hotels, bars and restaurants (9.4%), financial services (9.2%) and local manufacturing (4.7%).
The BCRD highlighted that year-on-year inflation was 3.18% in November, remaining below the target range of 4.0% ± 1.0% since December 2023. This stability reflects effective monetary policies and subsidies for fuel and electricity . In addition, the solid economic performance of the United States, with an annualized quarterly growth of 3.1%, positively impacted the Dominican economy through remittances, tourism, exports and foreign investment.
The solid performance of the IMAE positions the Dominican Republic as the fastest growing economy in Latin America, aligning with the projections of the IMF and ECLAC. These organizations predict that the country will maintain its regional leadership in economic growth by the end of 2024.