Guatemala: Economic activity remains firm in September
November 10, 2011
In September, economic activity grew 5.4% over the same month last year, according to the monthly indicator for economic activity (IMAE, indice Mensual de la Actividad Economica). The reading mirrored Augusts' 5.4% growth, which represented the strongest expansions since July of 2010. As a result of the September reading, economic activity resumed its upward trend, with annual average growth rising from 3.0% in August to 3.8% in September, which suggests that economic activity is garnering momentum. On a monthly basis, economic activity rose a seasonally adjusted 0.24% in September, which followed an increase of the same magnitude in August. The Central Bank expects the economy to grow between 2.9% and 3.5% this year and between 3.3% and 3.7% in 2012.
Author: Ricardo Aceves, Senior Economist