Guatemala Economic Activity May 2021


Guatemala: Economic activity grows at record-high pace in May

July 8, 2021

Economic activity increased 15.7% year-on-year in May (April: +15.1% yoy). May's reading marked the best result on record on the back of a favorable base effect: The country was in lockdown in the same month a year prior amid the onset of the Covid-19 pandemic.

The print was driven by robust growth in the trade and repair of vehicles; manufacturing; and food services.

Meanwhile, annual average growth in economic activity rose from 1.4% in April to 3.5% expansion in May.

GDP is seen expanding 3.8% in 2021. For 2022, our panelists expect the economy to grow 3.6%.


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Guatemala Economic Activity Chart

Guatemala Economic Activity May 2021

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

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