Business: Optimism in Guatemala

In the I Quarter of 2021, 58% of businessmen reported stability in employment, while 36% reported better economic conditions compared to the same period in 2020.

Friday, May 14, 2021

The I Business Perception Survey 2021, conducted by the Coordinating Committee of Agricultural, Commercial, Industrial and Financial Associations (CACIF), indicates that 36% of the executives consulted, confirmed a recovery in their sales in the first quarter of the year, with a growth of up to 20% compared to the first quarter of 2020.

Check out the "System for monitoring markets and economic situation in the countries of Central America", prepared by CentralAmericaData.

67% of business leaders estimated 'stable' employment conditions in the second quarter as a result of a higher growth in economic activity (46%), and higher sales (41%), highlights the official report.

69% of the companies surveyed stated that they had accelerated the digitalization of processes for automation. According to the analysis, 89% said that social networks represent the new operating tool in the face of the new normality.

The main challenge for digitization in companies is the lack of training of employees (29%). 43% of the executives consider that the government should support with technical assistance and financing for the digital transformation of the country, the document specifies.

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More on this topic

Economic Expectations Improve to February 2020

March 2020

During February in Honduras, the Economic Activity Confidence Index registered a 15% increase compared to that reported in January 2020.

The informants said that the main macroeconomic variables are within the current Monetary Program, highlighting the strength of the U.S. economy and its effect on Honduras, mainly in attracting family remittances, explains the Central Bank report.

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 Improves upon Change of Government

January 2020

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

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.

Historical low in the business confidence index in Costa Rica

November 2008

The business confidence index dropped 17% withing the last year, according to the “Pulso Empresarial” survey by the Union of Chambers (Uccaep).

During the fourth quarter of 2007, the confidence index was at 7.27 out of a maximum of 10, while in the last quarter of this year, it fell to 6.04.

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