Business Survey in Guatemala

Six out of ten companies surveyed have reduced their production due to the economic crisis.

Friday, June 26, 2009

According to the XLI Business Survey conducted by the Association of Research and Social Studies (Asies), businesses' productive outputs are at their lowest levels in the last 10 years.

Lorena Álvarez writes on the website “The businesses surveyed report a reduction in their revenues, a situation that primarily affects factories and companies that provide services to households due to families reducing their expenses.”

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Textile Manufacturer to Suspend 3,000 Workers in El Salvador

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The Fruit of the Loom textile company halted operations at one of its 7 plants, temporarily suspending 25% of its personnel.

The chairman of the Salvadoran Chamber of Textiles and Apparel reported to La Prensa Grafica that the decline in operations is due to "Fruit of the Loom clients being overstocked with product and adjusting inventories.”

El Salvador as seen by the IMF

January 2009

Like in other Central American countries, economic growth is expected to decelerate, on the back of the U.S. slowdown.

While real GDP growth rose to 4.7 percent in 2007, a record high in the last decade, it is expected to decelerate to 3.2 percent in 2008. However, the monthly economic activity indicator has signaled a mild but steady slowdown thereafter, reaching an average growth rate of 3.2 percent in the year to August.

56% of Guatemalan companies reduce their production

December 2008

56% of the 893 companies that were surveyed said that they had reduced their production in October, compared to the same month last year.

This is according the results of the 39th Business Survey carried out by the Association for Investigation and Social Studies (Asies).