Guatemala Economic Activity May 2020


Guatemala: Economic activity sinks in May

July 16, 2020

Economic activity in Guatemala contracted 11.8% year-on-year in May, deteriorating from April’s revised 10.7% fall. The data highlights that the fallout from Covid-19 intensified in the second quarter amid the full impact from containment measures to curb the spread of the virus, weighing on domestic and foreign demand. Moreover, the fall marked the third consecutive contraction in economic activity as well as the steepest contraction since at least January 2015.

Consequently, annual average growth in the economic activity index eased to 0.6% in May from 1.9% in April.

GDP is seen contracting 2.5% in 2020, which is down 0.5 percentage points from last month’s projection. For 2021, our panelists expect the economy to grow 4.1%.


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Guatemala Economic Activity Chart

Guatemala Economic Activity May 20 20

Note: Year-on-year changes and annual average variation of economic activity in %.
Source: Guatemala Central Bank and FocusEconomics calculations.

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