Guatemala: Economic activity growth slows in November
Latest reading: Economic activity lost momentum from October’s near three-year high of 6.1% expansion in November, rising 3.5%. Looking at the details of the release, sturdy output in the financial, and wholesale and retail trade sectors underpinned the upturn. Robust momentum in the construction, 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 November (October: +3.1% yoy).
On the external front, merchandise exports rose at a softer pace of 11.8% in November compared to October’s 17.6% print. Moreover, remittances inflows growth plummeted to 7.4% in the same month (October: +21.2% yoy), boding ill for household budgets.