Guatemala: GDP slides at softer rate in Q3
GDP declined at a markedly slower pace in the third quarter, decreasing 1.8% on an annual basis (Q2: -9.6% year-on-year).
The upturn reflected a broad-based improvement in private consumption, public spending, fixed investment and exports. Household spending slid at a more moderate pace of 0.9% year-on-year in Q3 compared to the 8.5% contraction recorded in Q2. Fixed investment dropped 7.0% in Q3, softening from the 17.8% decrease logged in the prior quarter. Public spending declined at a less pronounced pace of 0.8% in Q3 (Q2: -2.3% yoy).
On the external front, exports of goods and services fell 4.3% on an annual basis in the third quarter, which was above the second quarter’s 20.0% contraction. In addition, imports of goods and services contracted at a more moderate pace of 8.3% in Q3 (Q2: -16.7% yoy).