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Guatemala Economic Activity October 2020

Guatemala: Economic activity growth gains momentum in October

Economic activity increased 1.3% compared to the same month of the previous year in October, which was above September’s 0.1% increase. October’s figure marked the best result since February. The print was driven by the manufacturing; real estate; and agricultural sectors. Growth in those sectors was partially offset by contractions in the construction and transport, and communications sectors.

The data bodes well for the final quarter of the year, with economic activity expanding for the second consecutive month. However, a global rise in Covid-19 cases and reintroduction of restrictive measures will weigh on the external sector and offset the full-fledged reopening of the domestic economy since 1 October.

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