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