LatinNews Daily - 22 February 2023

In brief: Nicaragua’s growth picks up

*Nicaragua’s central bank (BCN) has released new figures for its monthly index of economic activity (IMAE) which show that this registered 3.6% year-on-year growth in December 2022, bringing accumulated growth for 2022 to 3.9%. The December year-on-year figure compares with 3.4% in November 2022 and was driven by hotels & restaurants (+25.4% year-on-year), exploitation of mining & quarries (10.0%), agriculture (7.7%), financial intermediation & connected services (6.5%), trade (4.6%), and manufacturing (2.2%) while declines were registered in construction (-10.0%), fishing and aquiculture (-7.3%), and energy & water (-0.8%).The latest (15 December 2022) growth forecast from the United Nations Economic Commission for Latin America & the Caribbean (Eclac) projected Nicaragua’s GDP would grow 3.8% in 2022, dropping to 2.1% for 2023.

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