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Guatemala Economic Activity February 2024

Guatemala: Economic activity growth slows in February

Economic activity expanded 3.2% compared to the same month a year earlier in February, which followed January’s 4.4% increase. Looking at the details of the release, strong activity in the manufacturing, wholesale and retail trade, financial services, and real estate sectors supported overall growth.

Accordingly, the trend pointed down, with the annual average growth of economic activity coming in at 3.5% in February from January’s 3.6%.

Meanwhile, on the external front, merchandise exports swung into contraction in February, falling 3.7% year on year (January: +1.4% yoy). Moreover, the annual increase in remittances was below Q4 in Q1, boding poorly for the private spending outturn at the outset of 2024.

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