The economy of Paraguay shrank 2.8 percent year-on-year in May 2019, following a 5.2 percent contraction in the previous month. Weak performance in agriculture, manufacturing, construction and electricity production were partially offset by the services sector, mainly due to government, household services, hotels & restaurants, financial intermediation and telecommunications. Leading Economic Index in Paraguay averaged 3.65 percent from 1995 until 2019, 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 -1.60 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 2.90 in 12 months time. In the long-term, the Paraguay Economic Activity Index YoY Change is projected to trend around 3.30 percent in 2020, according to our econometric models.