Guatemala: Economic activity increases at slowest pace in more than three years
April 7, 2014
In February, economic activity expanded 2.5% over the same month last year according to the monthly indicator for economic activity (IMAE, Indice Mensual de la Actividad Economica). The increase was slightly below the 2.6% rise observed in January (previously reported: +2.9% year-on-year) and marked the lowest increase in over three years.
As a result, the trend deteriorated, with average annual growth in economic activity inching down from 3.6% in January to 3.5% in February.
The Central Bank expects the economy to grow between 3.3% and 3.9% in 2014. Consensus Forecast participants see GDP growing 3.4% in 2014, which is unchanged from last month's forecast. For 2015, panelists also expect the economy to expand 3.4%.
Author: Dirina Mançellari, Senior Economist