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LatinNews Daily - 20 January 2025

In brief: Nicaragua’s growth picks up in annual terms

*Nicaragua’s central bank (BCN) has released new figures for its monthly index of economic activity (Imae), registering 2.6% year-on-year growth in October 2024. This is up from 1.5% year-on-year growth in September 2024. The October year-on-year figure was driven by financial intermediation & connected services (+7.3%), hotels & restaurants (5.6%), and trade (5.4%), among others. Sectors to register a decline include mining & quarrying (-15.3%), energy & water (-6.4%), and public administration & defence (-0.7%). In seasonally adjusted terms, the Imae for October was down 0.2% on the previous month, while in year-on-year seasonally adjusted terms, it was up 1.4% compared with October 2023. In its latest forecast released on 18 December, the United Nations (UN) Economic Commission for Latin America and the Caribbean (Cepal) forecast that Nicaragua will post 3.7% GDP growth in 2024, down from 4.6% in 2023.

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