Guatemala: Economic activity slows somewhat in March
May 10, 2011
In March, economic activity expanded 3.2% over the same month last year, according to the monthly indicator for economic activity (IMAE, indice Mensual de la Actividad Economica). The monthly expansion was below the 5.6% increase observed in February, which had marked the fastest pace since July 2010. A month-on-month comparison does not confirm the deceleration suggested by the annual figures, as economic activity rose a seasonally-adjusted 0.29% over the previous month, which was virtually unchanged from the 0.30% increase observed in February. As a result of the March result, the trend remained flat, with annual average growth remaining unchanged at February's 3.5%, suggesting a moderation in the recovery process. The Central Bank estimates the economy will grow between 2.6% and 3.2% this year.
Author: Ricardo Aceves, Senior Economist