Guatemala: Economic activity shifts into higher gear in July
September 6, 2018
Data from Banguat’s monthly index of economic activity (IMAE, Índice Mensual de la Actividad Económica) showed that economic activity swung to a 1.1% expansion in July over the previous month, contrasting June’s revised 0.1% contraction (previously reported: 0.0% month-on-month).
On a year-on-year basis, growth in economic activity in July picked up steam to 3.4% from 3.0% in the previous month. Growth in July was driven by the transportation; storage and communications; wholesale and retail trade; private services; and manufacturing sectors. Annual average growth in economic activity, meanwhile, was stable at 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%.
Author: Jan Lammersen, Economist