Guatemala: Economic activity slows to year-low in October
December 5, 2013
In October, economic activity expanded 2.9% over the same month last year according to the monthly indicator for economic activity (IMAE, Indice Mensual de la Actividad Economica). The reading undershot the 3.1% rise recorded in September and marked the lowest reading since October 2012.
Nevertheless, the trend stabilized, with average growth in economic activity stable at the previous month's 3.5%, which marked the highest level in 16 months.
The Central Bank expects the economy to grow between 3.2% and 3.6% in 2013 and between 3.3% and 3.9% in 2014. Consensus Forecast participants see GDP growing 3.4% in 2013, which is unchanged from last month's forecast. For next year, panelists expect the economy to expand 3.6%, which is also unchanged over the previous month's estimate.