Guatemala Economic Activity August 2022

Guatemala

Guatemala: Economic activity growth gains momentum in August

October 7, 2022

Economic activity grew 3.9% year on year in August (July: +2.9% yoy). The acceleration was driven by robust activity in the trade and repair of vehicles, manufacturing, real estate, construction, and financial services sectors.

Despite the acceleration in August, data points to moderating economic growth in the third quarter as annual average growth in economic activity eased to 4.4% in August from 4.7% in July. August’s print marked the weakest expansion since April 2012.

GDP is seen expanding 3.6% in 2022. For 2023, our panelists expect the economy to grow 3.1%.


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Guatemala Economic Activity Chart


Guatemala Economic Activity August 2022

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


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