Guatemala: Economic activity accelerates in March
May 10, 2012
In March, economic activity rose 4.4% over the same month last year, according to the monthly indicator for economic activity (IMAE, Indice Mensual de la Actividad Economica). The reading nearly doubled the 2.4% increase observed in February (previously reported: +2.7% year-on-year) and marked the fastest pace of expansion so far this year. On a monthly basis, economic activity grew a seasonally adjusted 0.30% in March, which was virtually unchanged from the 0.31% expansion observed in February. Owing to the acceleration observed in March, the trend improved slightly, with annual average growth in economic activity inching up from 3.7% in February to 3.8%. Meanwhile, the Central Bank expects the economy to grow between 2.9% and 3.3% this year and between 3.5% and 3.9% in 2013.