LatinNews Daily - 26 July 2021

In brief: Nicaragua’s economic growth ticks up

* Nicaragua’s central bank (BCN) has released its latest monthly economic activity index (Imae) which showed a 0.4% increase in May 2021 compared with the previous month and a 5.4% increase compared with May 2020. This follows year-on-year growth of 4.7% in April, 3.8% in March, 2.9% in February and 2.1% in January. As regards a breakdown by sector, exploitation of mines and quarries registered the highest growth of any sector (118.0%) in May 2021 compared with the same month in 2020, followed by hotels & restaurants (64.2%); fishing & aquiculture (34.9%); and manufacturing industry (34.6%). Meanwhile financial intermediation & connected services registered the highest contraction (-5.9%). Nicaragua’s GDP contracted 2% in 2020 while the latest (8 July) forecast from the United Nations Economic Commission for Latin America & the Caribbean (Eclac) predicts it will grow 2.0% this year.

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