Guatemala: Economic activity growth hits a near three-year high in October
Latest reading: Economic activity growth jumped to 5.7% in October from September’s 3.6%, marking the sharpest increase since November 2021. Looking at the details of the release, sturdy output in manufacturing, and in the financial, and wholesale and retail trade sectors underpinned the upturn. Robust momentum in the real estate plus hospitality sectors added further impetus.
Accordingly, the trend pointed up, with annual average growth in economic activity rising to 3.5% in October (September: +3.1% yoy).
On the external front, merchandise exports swung into a 1.2% contraction year on year in October (September: +16.8% yoy). Moreover, remittances inflows growth slowed to 1.4% in the same month (September: 13.9% yoy), boding ill for household budgets.