The economy of Paraguay advanced 0.6 percent year-on-year in November 2018, slowing from a 2.5 percent expansion in the previous month. Main positive contributions came from services, namely trade, telecommunication, restaurants and hotels, financial intermediation and public administration; electricity production due to higher level of water in the Parana River caused by rain and manufacturing, of which sugar, chemical products, textiles and clothing, and beverages and tobacco. Meanwhile, decreases were seen in some industrial activities, such as the manufacture of meat, oil and paper; non-metallic minerals; and machinery and equipment. Considering the fist eleven months of the year, the economy grew 3.8 percent over a year earlier. Leading Economic Index in Paraguay averaged 3.79 percent from 1995 until 2018, reaching an all time high of 23 percent in April of 2013 and a record low of -10.30 percent in May of 2009.
Leading Economic Index in Paraguay is expected to be 2.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Leading Economic Index in Paraguay to stand at 3.40 in 12 months time. In the long-term, the Paraguay Economic Activity Index YoY Change is projected to trend around 3.10 percent in 2020, according to our econometric models.