Latin America’s Outlook: Growth Prospects Remain Subdued
Fernando Sedano, economic consultant to MAPI, presents the industrial forecast for the largest countries in Latin America.
Mexico continues to show disappointing economic indicators; nevertheless, a pickup in production is likely. Mexico will benefit from faster growth in the United States. Meanwhile, the appreciation in Brazil’s currency has made the country's manufacturing sector uncompetitive and hampered export performance. Argentina shows no signs of improvement following a recent currency devaluation and rising interest rates meant to stem domestic currency conversion into dollars that have drained the nation's foreign exchange reserves.
Mexico will lead the growth in Latin American manufacturing by increasing 3.5% in 2014 and 3.8% next year.
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