Macroeconomic Forecast Nicaragua

BMI View: Nicaragua's IMAE economic activity index came in 5.2% y-o-y in September, below the 7.2% average of the last 12 months. This plays out well with our view that the strong growth observed in H111 was going to abate as economic activity was set to pauses in the run up to the November elections. As a result, we are happy to sit with our forecast for Nicaraguan real GDP growth of 3.3% in 2011 and 2012.

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