Honduras: Economic Activity Grows 13%Monday, May 17, 2021 During March 2021, the Monthly Index of Economic Activity reported a variation of 13% when compared to the levels reported in the same month of 2020, a period that was marked by the closure of the economy due to the pandemic. The economic activities that most contributed to the positive result were: Manufacturing Industry and Commerce, and to a lesser extent, Mail and Telecommunications, Financial Intermediation and Other Services -related to health and net taxes-. These contributions were partially offset by the negative variations in agricultural activities, Transportation and Storage, and Hotels and Restaurants, highlights the report of the Central Bank of Honduras (BCH). Honduran Economic Activity Falls 9% in 2020Wednesday, February 17, 2021 At the end of last year, the Monthly Index of Economic Activity reported a -8.5% year-on-year variation, a drop that is explained by the negative effects generated by the outbreak of covid-19 and tropical storms Iota and Eta. The national production of goods and services in terms of volume, showed a contraction in the accumulated variation rate of 8.5% (increase of 3.1% in 2019), mainly explained by the negative effects of the Covid-19 pandemic on economic activity and demand, added to the impact of tropical storms Eta and Iota on agricultural crops, some industries and productive infrastructure, mainly in the northern part of the country, says an official report. Economic Recovery: Honduras RetreatsTuesday, January 19, 2021 As a result of the pandemic in May 2020, the IMAE hit bottom by falling 22% year-on-year, but from June onwards, smaller falls began to be reported and in October the decline was barely 1%; however, in November the country fell back by 12%. National production, measured through the original series of the Monthly Index of Economic Activity (IMAE), reflected a 12% year-on-year decrease in November 2020, determined by the negative impact of the pandemic, to which was added the losses in production due to the flooding caused in the national territory in the first half of November by the occurrence of tropical storms Eta and Iota. Costa Rica: Changes in Consumer ExpendituresThursday, December 17, 2020 In the context of changing purchasing patterns, local consumer spending on clothing and shoes decreased by 44% and the budget allocated to telephone and Internet services increased by 52% compared to pre-pandemic levels. The "2020 Current Events Survey", developed by the University of Costa Rica, collected information on the change in consumption patterns that arose from the coronavirus outbreak. Human Development: Lights and Shadows in the RegionTuesday, December 15, 2020 At the end of 2020, Honduras, Nicaragua, Guatemala and El Salvador remained at the bottom of the Human Development Index ranking, while Costa Rica and Panama were better evaluated. The report entitled The Next Frontier, Human Development and the Anthropocene, which was published on December 15, 2020 at the global level, updates the Human Development Index (HDI) that is calculated by the United Nations Development Program (UNDP). Consumers, Mobility and Sales TrendsThursday, October 29, 2020 In Costa Rica, the number of people visiting commercial establishments, restaurants and entertainment venues has been rising in recent months, but consumption levels are still low, due to unemployment and limited income. Because of the quarantine caused by the covid-19 outbreak, April was when people stayed longer in residential areas; however, according to Google mobility reports, as of June mobility patterns began to change. Business Partners and Economic RecoveryMonday, September 14, 2020 After the unemployment rate in the United States fell from 15% to 8% between April and August, it became evident that at the beginning of the crisis the capacity of recovery that the North American country could develop was underestimated and it is expected that this behavior could boost the economic activity in Central America. During the first half of 2020, when the first cases of covid-19 began to be reported in the region, forecasts noted that the recovery of economic activity would be excessively slow, due to a significant drop in consumption globally. Pandemic: Court Suspends RestrictionsFriday, August 21, 2020 After the Municipality of the head of the province of San Marcos, in Guatemala, decreed several trade restrictions to contain the advance of covid-19, the Constitutional Court decided to suspend them. The country's highest court in constitutional matters heard the case after the Chamber of Commerce filed an action for protection against the provisions of the municipal corporation of the capital city of San Marcos, which were published on August 11 and are contained in Act 73-2020. Economy: How to Survive the crisis?Tuesday, August 11, 2020 Speeding up the repayment of the tax credit, repealing the Solidarity Tax, approving the Leasing Law, reforming the Banking Law and the Free Zone Law, is part of what Guatemalan businessmen are proposing to reactivate the economy in this context of crisis. At present, Guatemala is immersed in a severe economic crisis, which was generated by the restrictions to productive activities that were decreed due to the outbreak of covid-19. Working Hours Reduced for SurvivalWednesday, July 22, 2020 In the context of the economic crisis, it is estimated that companies in Central America have reduced the working hours of employees to an average of 32 hours per week. As a result of the spread of covid-19 in the countries of the region and the imposition of strict home quarantines, demand for products and services has fallen considerably in most markets. New Reality, New TrendsFriday, June 5, 2020 Structural changes in world trade, consumer preference for living on the outskirts of cities and a growing demand for technological equipment to be able to work from home are some of the turns economies will experience in the new reality. Most companies globally have been focused on understanding the new business environment, which derives from the change in the ways people relate to each other as a result of the covid-19 outbreak. Economic Recovery: Doubts in PanamaMonday, May 25, 2020 Lack of clarity in the opening schedule and the absence of a unified, concrete and immediate policy that aims at economic recovery under the established health guidelines, is part of what concerns entrepreneurs. As part of the return to normal business activities, after the severe quarantine imposed on the country due to the outbreak of covid-19, this week the Panamanian economy is preparing for the opening of the second block of activities. Suspension of Basic Services BannedThursday, May 21, 2020 In Guatemala, a legislative project prohibiting cuts in water, electricity, cable TV, telephone and Internet services during the state of calamity, which was decreed by the outbreak of covid-19 in the country, was published. After multiple struggles, Decree 15-2020 was published on May 21 in the Diario de Centroamérica, which was approved by the deputies and then vetoed by President Alejandro Giammattei.
INTERACTIVE INFORMATION SYSTEM
Guatemala: Household Expenditure ForecastThursday, April 30, 2020 Once the local economy begins to return to normal, as isolation and mobility restrictions are relaxed, it is estimated that Guatemalan households will have reduced their demand for car insurance by 7%. Using a demand/income sensitivity model developed by the Trade Intelligence Unit of CentralAmericaData, it is possible to forecast the variations in demand by Guatemalan households for different goods and services as the most critical phases of the spread of the covid-19 are overcome and the measures restricting mobility in the country are lifted. Nicaragua: Unemployment Could Rise to 9%Thursday, April 30, 2020 Given the threat of a deepening economic recession in the country, resulting from the outbreak of covid-19, it is estimated that by the end of the year the open unemployment rate could rise to 9.2%. In the context of the health crisis, an increase in poverty levels will also be reported, and the GDP per capita indicator will decrease, explains the "Informe de Coyuntura, Abril 2020", prepared by the Nicaraguan Foundation for Economic and Social Development (Funides). |
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