Better Than We Hoped

CENTRAL AMERICA - Report 31 Dec 2014 by Francisco de Paula Gutierrez
Executive SummaryPreliminary data suggests the economies of Costa Rica, Guatemala and El Salvador performed better than expected this year. The good behavior of the U.S. economy, and trajectory of commodity prices (mainly oil and its derivatives) during H2, helped lift external commerce, and sustain internal demand via better terms of trade. Lower oil prices also contributed to an inflation slowdown later in the year, and to an improvement in the current account balance, which, in Guatemala and El Salvador, also benefitted from higher private remittance inflows. Yet consumer confidence does...

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