Macroeconomic Forecast Nicaragua

BMI View: Nicaragua's industrial production index continues to tick up, with the three-month moving average of the year-on-year growth rate reaching 16.1% in July, up from 15.6% in June. While encouraging, we caution that weak base effects from mid-2009 have boosted growth rates in recent months and, with domestic demand remaining distinctly weak, hold to our forecast for muted end-2010 industrial production growth of just 4.0% y-o-y, before dropping to 3.5% by end-2011.

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