Guatemala: Economic activity growth accelerates in August
Latest reading: Economic activity rose 4.1% year on year in August, outpacing July’s 3.0% increase. 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 sector added further impetus.
Meanwhile, annual average growth in economic activity was steady at July’s 3.1% in August.
On the external front, merchandise exports surged at an over two-year high pace of 17.5% year on year in August (July: +0.6% yoy). Moreover, remittances inflows growth rose to 13.9% in the same month (July: 10.7% yoy), boding well for household budgets.