Guatemala: Economic activity grows at slowest pace in over three years
April 10, 2012
In February, economic activity rose 2.7% over the same month last year, according to the monthly indicator for economic activity (IMAE, indice Mensual de la Actividad Economica). The reading came in below the 3.1% expansion observed in January (previously reported: +2.3% year-on-year) and marked, in fact, the slowest pace of expansion since December 2010. On a monthly basis, economic activity grew a seasonally adjusted 0.27% in February, which was virtually unchanged from the 0.28% expansion observed in January. Owing to the deceleration observed in February, the trend deteriorated slightly, with annual average growth in economic activity falling from 4.1% in January to 3.9%. 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.