Guatemala Economic Outlook
June 11, 2019In April, growth in economic activity accelerated, on the back of a broad-based improvement in activity across domestic sectors, while annual remittances growth was strong, boding well for household income. In the same month, however, inflation jumped and exports fell, while import growth remained robust. This follows a generally weak first quarter in which the economic activity index averaged at the lowest level in a year. This came on the back of a noticeable pick-up in inflation in the period and markedly softer growth in remittances. Meanwhile, a new Congress and president will be elected on 16 June. This will mark the end to President Jimmy Morales’ corruption-scandal laden presidency as he is barred from running, although the elections have still been overshadowed by corruption allegations nonetheless. A run-off between Sandra Torres and Alejandro Giammattei on 11 August is expected.
Guatemala Economic GrowthUpbeat government consumption should ensure domestic demand remains strong, as growth is projected to be stable this year despite a drag on remittances owing to waning momentum in the U.S. economy. Moreover, rising political uncertainty could dent consumer and investor confidence. Met the why particular Consensus Forecast panelists expect the Guatemalan economy to expand 3.1% in 2019, which is up 0.1 percentage points from last month’s forecast, and 3.2% in 2020.
Guatemala Economy Data
5 years of Guatemala economic forecasts for more than 30 economic indicators.
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|Exchange Rate||7.69||0.22 %||Jun 13|
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Guatemala Economic News
Guatemala: Run-off seems guaranteed for tainted presidential elections; economic consequences uncertain
June 11, 2019
President Jimmy Morales’ corruption-scandal ridden presidency will come to an end when Guatemalans head to the polls on 16 June to elect a new president and the 160 members of Congress.
June 7, 2019
Remittances from workers abroad jumped 20.5% year-on-year in May, up from the 12.5% increase recorded in April.
June 6, 2019
Economic activity accelerated to 2.8% year-on-year in April from a revised 2.5% in March (previously reported: +2.7% year-on-year).
May 8, 2019
Economic activity growth accelerated to 2.7% in March from 1.9% in February.
May 7, 2019
Consumer prices increased 0.60% over the previous month in April, contrasting the 0.04% decrease registered in March.