Guatemala: Economic activity picks up in November
January 10, 2012
In November, economic activity rose 3.7% over the same month the year before, according to the monthly indicator for economic activity (IMAE, indice Mensual de la Actividad Economica). The reading came in above the revised 3.4% expansion observed in October (previously reported: +2.3% year-on-year). On a monthly basis, economic activity grew a seasonally adjusted 0.25% in November, which was virtually unchanged from the 0.24% expansion observed in October. Despite the acceleration in November, the trend was flat, with annual average growth in economic activity remaining unchanged at October's 3.8%. The Central Bank estimates that the economy will grow between 2.9% and 3.3% this year.