Business Confidence Improves upon Change of Government

A few days before the new government takes office in Guatemala, the Economic Activity Confidence Index reported a 21% year-on-year growth.

Friday, January 10, 2020

Figures from the Bank of Guatemala indicate that in December 2019 the country's Confidence in Economic Activity Index (Icae) reported a considerable increase compared to the same month in 2018, a performance that reinforces the upward trend it has been registering since July last year.

The rise in business expectations corresponds to the electoral victory of Giammattei, who in August 2019 won the second round by a wide margin, concentrating 57.9% of the votes, a proportion higher than the 42.1% won by Sandra Torres, the candidate of the Unidad Nacional de la Esperanza.

The official report states that at the end of last year "... the Index of Confidence in Economic Activity (Icae) stood at 59.27 points, up 1.91% from November 2019 (58.16 points) and up 21.43% from December 2018 (48.81 points)."

The document adds that businessmen consulted estimate that "... the Real Gross Domestic Product will register a 3.2% growth in 2019 and 3.3% in 2020. Compared to the November survey, the Panel's forecast for both 2019 and 2020, recorded a 0.1 percentage point increase (3.1% and 3.2% in the previous survey, respectively)."

See full report (in Spanish).

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More on this topic

Business Confidence Still Rising

March 2020

In February 2020, the Index of Confidence in Economic Activity in Guatemala reported a 64% growth compared to the same month last year, reinforcing the upward trend that has been registered since July 2019.

Businessmen forecast an inflationary rhythm of 3.25% for February, 3.36% for March and 3.38% for April 2020. As to December 2020 and 2021, the Panel forecasts an inflationary rhythm of 4.16% and 4.20%, in that order.

Business Confidence: Good Numbers Continue

December 2019

In November of this year, the Index of Confidence in Economic Activity in Guatemala reported a 28% growth with respect to the same month in 2018, reinforcing the upward trend that has been registered since July 2019.

Businessmen forecast an inflationary rhythm of 3.34% and 3.54% for November and December 2019, respectively, as well as 3.69% for January 2020.

Strong Rebound in Business Confidence

November 2019

In October of this year the Index of Confidence in Economic Activity in Guatemala reported an 18% growth with respect to the same month in 2018, reinforcing the upward trend that has been registered since July 2019.

Entrepreneurs forecast an inflation rate of 3.50% for October, 3.81% for November and 3.94% for December 2019.

Business Confidence Grows to 7%

October 2019

After registering a 6% year-on-year rise in August, in September the Confidence in Economic Activity Index in Guatemala showed a 7% variation.

According to the last report of the Banco de Guatemala, an inflationary rhythm of 4.08% is forecast for September, of 4.22% for October and of 4.29% for November 2019.

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