Guatemala: Economic activity accelerates in April
July 10, 2011
In April, economic activity increased 3.7% 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 slightly above the revised 3.6% expansion observed in March (previously reported: +3.2% year-on-year). On a month-on-month basis, the result does not confirm the acceleration suggested by annual figures, as economic activity expanded 0.26% in seasonally adjusted terms, which was a notch below the 0.28% increase tallied in March. As a result of the April expansion, the trend continues to point upwards, with annual average growth inching up from 3.6% in March to 3.7% in April, suggesting that the recovery process is maintaining momentum. Meanwhile, the Central Bank revised its growth estimates for this year and now expects the economy will grow between 2.9% and 3.2% this year (previously reported: 2.6%-3.2%).
Author: Ricardo Aceves, Senior Economist