Guatemala: Economic activity accelerates at the fastest pace in seven months
May 10, 2011
In February, economic activity expanded 4.5% over the same month last year, according to the monthly indicator for economic activity (IMAE, indice Mensual de la Actividad Economica). The increase was above the 2.4% expansion registered in January and represented the fastest pace of expansion since July 2010. A month-on-month analysis confirms the strong expansion suggested by the annual data, as economic activity rose a seasonally adjusted 0.26% over the previous month, which was a notch above the 0.25% increase observed in January. As a result of the strong expansion in February, the trend continues to point to a healthy recovery, with annual average growth rising from 3.3% in January to 3.4%. The Central Bank estimates the economy will grow between 2.6% and 3.2% this year.
Author: Ricardo Aceves, Senior Economist