Before I provide the details on economic performance, let me remind you of the purpose of these quarterly economic estimates provided by the PIOJ. The PIOJ presents preliminary estimates on economic performance for each quarter. This is based on early information available from the major data providers.
This release of the preliminary estimate is consistent with trends in all modern economies globally where it is the common practice to release a 1st, 2nd and even a 3rd preliminary estimate, before the final official figures are released. The PIOJ releases the preliminary growth estimate approximately six weeks following the end of the quarter being reviewed. STATIN releases the official GDP figures at the end of the 3rd month following the end of the quarter. The targeted timeline for the press briefing is sometimes impacted by challenges in the data collection process. For the review period January to March 2021, measures implemented to stem the spread of the COVID-19 pandemic also impacted the timeliness of data flow from key providers. . . . READ MORE