Guatemala: Economic activity sinks in May
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.