LatinNews Daily - 05 January 2021

In brief: El Salvador’s economy shows signs of recovery

* El Salvador’s central bank (BCR) has released new figures which show that the country’s GDP contracted 10.2% year-on-year in the third quarter of 2020, as a result of the impact of the coronavirus (Covid-19) pandemic. This is an improvement on the 19.8% contraction registered in the second quarter of 2020. In quarterly terms, GDP grew 12% in the third quarter compared with the second quarter, with quarterly growth driven by manufacturing (33.3%); construction (26.3%); trade (25.0%); accommodation & food (16.4%); and professional, scientific, and technical activities (13.7%). The BCR forecasts that El Salvador’s GDP contracted between 7% and 8.5% in 2020.

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