Monitoring sectoral financial flows: economic activity stabilises at lower readings
Incoming flows in the week ending 15 May — the first one following the nation-wide non-work period — show persistently lower levels of economic activity. This is linked to the fallout from the restrictive measures in place across many regions as well as to tangible secondary effects in a large number of sectors. These findings are reported in the fifth volume of the weekly Monitoring Sectoral Financial Flows.
The average deviation of incoming payments, lower from a ‘normal reading’, excluding the mining and quarrying and oil product sectors and general government was 4.2% in the last three weeks (between 27 April and 15 May). In the first four non-work weeks (between 30 March and 24 April) this deviation amounted to 18.1%.
The lower incoming payments in April across many sectors were behind a comparable reduction in the volume of outgoing payments to related sectors. This confirms that spillover effects from the worst hit industries put under lockdown fed through to related sectors as effective demand for their products dropped.
