Guatemala Economic Activity July 2020

Guatemala

Guatemala: Economic activity drops for fifth month running in July

September 10, 2020

Economic activity declined 4.8% compared to the same month a year earlier in July, which was a less pronounced drop than June's 7.2% decrease. The reading marked the fifth consecutive fall and came on the back of widespread drops in activity across sectors due to Covid-19 and restrictive measures to curb the spread of the virus.

Consequently, annual average growth dropped to a 0.9% contraction in July from a 0.2% contraction in June.

GDP is seen contracting 2.9% in 2020, which is down 0.1 percentage points from last month’s projection. For 2021, our panelists expect the economy to grow 3.7%.


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Guatemala Economic Activity July 20 20

Note: Year-on-year changes and annual average variation of economic activity in %.
Source: Guatemala Central Bank and FocusEconomics calculations.


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