Guatemala: Economic activity expands at slowest pace in 16 months in January
March 6, 2014
In January, economic activity expanded 2.9% over the same month last year according to the monthly indicator for economic activity (IMAE, Indice Mensual de la Actividad Economica). The increase was below the 3.0% rise tallied in December (previously reported: +3.3% year-on-year) and marked the lowest increase since September 2012. As a result, the trend deteriorated, with average annual growth in economic activity inching down from 3.5% in December to 3.4% in January. The Central Bank expects the economy to grow between 3.3% and 3.9% in 2014. Consensus Forecast participants see GDP growing 3.4% in 2014, which is down 0.1 percentage points from last month's forecast. For 2015, panelists also expect the economy to expand 3.4%.