Guatemala: Economic growth slows in October
December 10, 2010
In October, economic activity rose 1.9% over the same month last year, according to the monthly indicator for economic activity (IMAE, indice Mensual de la Actividad Economica). The increase was below the 3.0% expansion observed in September and represented the slowest growth since July. A month-on-month assessment does not confirm the deceleration suggested by the annual figures. Economic activity rose 0.22% over the previous month in seasonally adjusted terms, which was virtually unchanged compared to the 0.23% increase observed in September. As a result of the weak annual reading, the trend remained unchanged for the third consecutive month, with annual average growth in economic activity remaining at 2.8%. The Central Bank estimates the economy to have expanded 2.6% in 2010 and sees economic growth ranging between 2.6% and 3.2% in 2011.
Author: Ricardo Aceves, Senior Economist