Guatemala Economic Outlook
January 21, 2020
Economic growth hit an over one-year high in the third quarter, propelled by stronger domestic demand. Fixed investment outlays jumped and household consumption remained robust amid stronger remittances growth and easing inflationary pressures, although public consumption growth slowed. Meanwhile, the external sector was a bigger drag on the economy compared to the prior quarter on a surge in imports. Turning to the fourth quarter of last year, economic growth likely lost a step: The monthly economic activity index averaged lower in October–November, despite robust manufacturing activity, and remittances inflows grew at a softer pace through December. On the other hand, inflation moderated, which should have supported private consumption.Guatemala Economic Growth
The economy is expected to grow at a broadly stable pace this year. Private consumption is forecast to remain healthy, buttressed by resilient remittance inflows, while the external sector should improve. However, softer economic growth in the U.S. will likely weigh on the expansion, while political fragmentation at home complicating policy implementation clouds the outlook. FocusEconomics Consensus Forecast panelists expect the economy to expand 3.3% in 2020, which is up 0.1 percentage points from last month, and 3.4% in 2021.Guatemala Economy Data
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Guatemala Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 7.71 | 0.22 % | Jan 01 |
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Guatemala Economic News
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Guatemala: Growth in economic activity eases in December
February 10, 2020
Growth in economic activity eased to 3.1% in December from an upwardly revised 4.0% in November (previously reported: +3.4% year-on-year).
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Guatemala: Inflation eases in January
February 10, 2020
Guatemalan consumer prices fell 0.24% month-on-month in January, contrasting the 0.60% monthly increase registered in December.
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Guatemala: Growth in remittances jumps in January
February 5, 2020
Remittances from workers abroad jumped 21.3% year-on-year in January, notably up from December’s 11.6% increase, and totaled USD 834.6 million (January 2019: USD 688.1 million; December 2019: USD 940.8 million).
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Guatemala: Growth in economic activity eases in November
January 10, 2020
Growth in economic activity eased to 3.4% in November from 3.7% in October.
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Guatemala: Economic growth accelerates in Q3 2019
January 10, 2020
Economic growth accelerated to 4.0% year-on-year in the third quarter of 2019, up from 3.5% in the second quarter and marking the third consecutive quarter of stronger economic growth.
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