ECLAC revises the region’s economic growth trend downward in 2015

5 October 2015

The Economic Commission for Latin America and the Caribbean (ECLAC) released today a new revision of the economic growth forecast for the region, whose performance in 2015 will be -0.3%.

Initially, ECLAC’s projections were 0.5%, but weak domestic demand, low growth in the economies of developed countries and a sharp slowdown in emerging economies, especially China, have caused the fall.

In addition, the agency pointed out, the strengthening of the dollar, growing volatility in financial markets and a significant drop in commodity prices have had an influence.

Despite this slowdown scenario at the regional level, the subregions will present different dynamics.

For example, the countries of South America, specialized in the production of raw materials, especially oil and minerals, and with greater integration with China, will register the largest contraction of -1.3% in 2015.

While the economies most related to the United States, such as Mexico and Central America, will manage to maintain growth of 2.6% this year.

As for 2016, ECLAC estimates that the region’s growth will be close to 0.7%.

The UN body recommended boosting investment to reverse the slowdown and set the region on a path of sustained long-term growth.

5 October 2015

The Economic Commission for Latin America and the Caribbean (ECLAC) released today a new revision of the economic growth forecast for the region, whose performance in 2015 will be -0.3%.

Initially, ECLAC’s projections were 0.5%, but weak domestic demand, low growth in the economies of developed countries and a sharp slowdown in emerging economies, especially China, have caused the fall.

In addition, the agency pointed out, the strengthening of the dollar, growing volatility in financial markets and a significant drop in commodity prices have had an influence.

Despite this slowdown scenario at the regional level, the subregions will present different dynamics.

For example, the countries of South America, specialized in the production of raw materials, especially oil and minerals, and with greater integration with China, will register the largest contraction of -1.3% in 2015.

While the economies most related to the United States, such as Mexico and Central America, will manage to maintain growth of 2.6% this year.

As for 2016, ECLAC estimates that the region’s growth will be close to 0.7%.

The UN body recommended boosting investment to reverse the slowdown and set the region on a path of sustained long-term growth.