World Bank2024-02-132024-02-132024-02-13https://openknowledge.worldbank.org/handle/10986/41060The economy expanded by 5.6 percent year-on-year in Q4 2023 as robust private consumption continued to fuel growth, while the recovery of tourism buoyed the expansion of services. The cumulative fiscal deficit declined in November 2023, while low external demand dampened goods exports, which weighed on manufacturing output growth. The unemployment rate fell to a 15-year low in November, supported by strong domestic demand during the holidays, yet job quality remains a concern.en-USCC BY-NC 3.0 IGOECONOMIC GROWTHPRIVATE CONSUMPTIONEMPLOYMENTJOB QUALITYBriefWorld Bank10.1596/41060