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    ECLAC Calls for Regional Growth of 3.2% in 2012

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    Latin America investment one of the best options, as markets continue to grow

    Latin America News – The regional economy will slow this year greater than expected but recorded an average growth of 3.2%, according to estimates provided the Economic Commission for Latin America and the Caribbean.

    The lower growth than expected by mid-year, 3.7%, is a result of the problems facing European economies, the U.S. and the Chinese slowdown. But also affect the low growth in Brazil and Argentina.

    In 2011 the economy of the region had a 4.3% expansion.

    The outlook for 2013, however, are better and point to an average growth of 4%, primarily due to expected recovery in Brazil and Argentina, which this year will increase in its gross domestic product of 1.6% and 2 %, respectively.

    Caribbean countries also recorded a level of 1.6% also.

    According to ECLAC estimates, Panama will again be the country that maintain the highest level of regional growth to 9.5% for next year and also appear with 7% among the busiest.

    Peru recorded high levels, with 5.9%, Bolivia, Chile, Costa Rica, Nicaragua and Venezuela with a growth of 5%.
    In Paraguay the climatic factors that triggered the crisis of soybeans, its main export, cause that is the only country that has this year a contraction of 2%. Recovery will be strong in 2013 estimated at 5%, according to ECLAC.

    Best even moderate expectations for 2013 which includes the UN economic body based in the capital are based on that from the second half the economies of Brazil and Argentina started to rebound. The South American giant as these estimates will grow by 4% next year, while in the case of Argentina will be more moderate 3.5%.

    The recovery in 2013, said Barcena not have much to do with the European situation but rather with increased activity of domestic markets and what happens in Asia.

    In the case of Mexico, Central America and the Caribbean have benefited from the mild U.S. recovery, but an eventual fiscal adjustment in the United States has a particular impact in the Caribbean and Central American countries.

    Inflation and employment, in contrast to the low growth will experience improvements this year. Average inflation is estimated at 6.5%, a slight drop compared to 6.7% in 2011.

    Inflation in turn had to June 1 12-month variation of 5.5% and maintain this trend, particularly influenced by the decline in food prices.
    The wage increases this year has been highlighted as one of the positive indicators and is particularly relevant in Venezuela, Uruguay, Panama, Brazil, Chile and Costa Rica.

    AP

    The Costa Rica News (TCRN)
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