Guatemala: Economic activity picks up in August
October 4, 2018
Data from Banguat’s monthly index of economic activity (IMAE, Índice Mensual de la Actividad Económica) showed that economic activity swung to a 0.4% contraction in August over July, contrasting July’s revised 0.8% expansion (previously reported: +1.1% month-on-month).
On a year-on-year basis, growth in economic activity picked up pace to 3.2% in August from 3.1% in the previous month (previously reported: +3.4% year-on-year). Growth in August was driven by the transportation; storage and communications; wholesale and retail trade; private services; and manufacturing sectors. Annual average growth in economic activity edged up to 2.8% from 2.7% in July.
Guatemala GDP Forecast
Banguat expects growth of between 2.8%–3.2% in 2018 and 3.1%–4.1% in 2019. FocusEconomics Consensus Forecast panelists see growth of 3.1% in 2018, which is unchanged from last month’s forecast. For 2019, our panelists predict growth to accelerate to 3.3%, also unchanged from last month’s forecast.
Author: Jan Lammersen, Economist