Guatemala Economic Outlook
November 5, 2019
Economic growth accelerated in the second quarter after softening in the first quarter and seems to have maintained momentum in the third. In Q2, the economy was buttressed by resilient, albeit moderating, domestic demand which remained robust thanks to stronger public expenditure and fixed investment and despite easing private consumption growth. The drag from the external sector, meanwhile, softened notably. Looking at the third quarter, the economy should have kept a resilient pace of growth. In the first two months, economic activity accelerated from the second quarter and export growth picked up pace in the same period compared to Q2, easily outpacing meek import growth. Moreover, in the quarter as a whole, remittance inflows strengthened and inflation moderated, boding well for household consumption.Guatemala Economic Growth
Economic growth should remain broadly stable next year owing to robust private consumption and an improving external sector. However, tighter credit conditions will likely limit the expansion. Weaker U.S. economic growth weighing on remittances, and political fragmentation at home, complicating policy implementation, pose downside risks to the outlook. FocusEconomics Consensus Forecast panelists expect the economy to expand 3.1% in 2020, which is unchanged from last month, and 3.4% in 2021.Guatemala Economy Data
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Guatemala Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 7.69 | 0.22 % | Sep 04 |
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Guatemala Economic News
Guatemala: Growth in remittances accelerates in September
October 30, 2019
Growth in remittances from workers abroad accelerated to 19.6% year-on-year in September from 14.0% in August.
Guatemala: Economic growth accelerates in the second quarter of 2019
October 30, 2019
Economic growth accelerated to 3.5% in the second quarter, up from the 3.1% acceleration recorded in the first quarter which had marked a one-year low.
Guatemala: Economic activity eases in August
October 30, 2019
Growth in economic activity inched down to 3.7% year-on-year in August from a revised 3.8% in July (previously reported: +3.2% year-on-year).
Guatemala: Inflation eases in September
October 30, 2019
Consumer prices fell 0.58% month-on-month in September, softening from the 0.86% decrease in August.
Guatemala: Inflation eases in August
September 30, 2019
Consumer prices dropped 0.86% month-on-month in August, down from the 0.06% decrease in July.
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