Guatemala: Economic activity edges up at the close of the first quarter
Data from Banguat’s monthly index of economic activity (IMAE, Indice Mensual de la Actividad Económica) showed that in March economic activity contracted 0.1% from the prior month, contrasting February’s revised 1.3% expansion (previously reported: +0.9% month-on-month).
However, on a year-on-year basis, growth in economic activity inched up from the prior month’s revised 2.9% (previously reported: +3.0%) to 3.0% in March. The result was spearheaded by growth in the wholesale and retail trade sector, while the transportation, storage and communication sector also performed solidly. Meanwhile, annual average growth in economic activity was stable at the prior month’s reading of 2.8%.