Economic Activity Still Recovering

After the IMAE in Guatemala registered a -11% year-on-year variation in May of this year, during June and July the production contractions were lower, reporting falls of 7% and 5%, in that order.

Thursday, September 10, 2020

The Bank of Guatemala reported that in the current economic crisis that emerged due to the spread of covid-19, the activities that have most boosted the drop in production are trade, tourism and transportation.

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The Central Bank report explains that "... The economic activity measured by the IMAE estimate in July 2020, registered a -4.8% variation rate (4% in July 2019).

This result was mainly influenced by the result of the following economic activities: Accommodation and food service activities; Trade and repair of vehicles; Transport and storage; Construction; Administrative and support service activities; and Other service activities such as personal services (laundry, hairdressing, beauty salons, among others); sports, recreation and leisure activities; and also artistic and entertainment activities.

The cycle-trend registered -5.2% year-on-year variation, in contrast to that registered in the same month of the previous year (3.9%).
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See full report (in Spanish).



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After dropping in May 2020 due to the outbreak of covid-19, then registering a -11% year-on-year variation, since then the economic activity index has been recovering quickly, reporting a reduction of only 0.3% in September.

The 0.3% decline in the Monthly Index of Economic Activity (IMAE) was influenced by the drop recorded in Accommodation and food service activities, Construction, Trade and vehicle repair, Transportation and storage, as well as by the growth observed in Manufacturing industries; Supply of electricity, water and sanitation services, and, Agriculture, livestock, forestry and fishing.

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In the context of the crisis generated by the outbreak of covid-19 and after reporting a -9% year-on-year variation in July, in August the IMAE registered a smaller reduction by contracting 8% compared to the same month in 2019.

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The lower activity, which is due to the impact that the pandemic has had in Costa Rica and around the world, is seen in the five major economic activities (agriculture, manufacturing, construction, trade and services) that make up the monthly index of economic activity (IMAE).

Economic Activity Shows Signs of Recovery

August 2020

After in May this year and in the context of the economic crisis, the IMAE in Guatemala registered a -12% year-on-year variation, during June 2020 the contraction of production was lower, reporting a 9% fall compared to the same month in 2019.

In the current economic crisis resulting from the spread of covid-19, the activities that have most boosted the drop in production are trade, tourism and transport, reported the Bank of Guatemala.