Economic Snapshot for Latin America
July 13, 2021
Regional economy to recovery in 2021
The regional economy should recover some of last year’s losses in 2021, thanks to the gradual removal of restrictions and recovering global demand. However, the pace of recovery will be limited by the still-troubling pandemic situation. Additionally, social and political tensions, slow vaccine rollouts, sizable fiscal deficits and ailing labor markets cloud the outlook.
Inflation to rise 2021
Regional inflation inched up to 9.7% in June (May: 9.5%), marking a multi-year high, on mounting price pressures in heavyweight Brazil as well as in Chile, Colombia, Paraguay, Peru and Uruguay. This year, loose monetary policy stances, recovering activity and supply disruptions will fuel inflation, but large output gaps should limit it somewhat.
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5 years of Latin America economic forecasts for more than 30 economic indicators.
Latin America Economic News
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Chile: Copper prices ebb in July but stay elevated
August 3, 2021
Copper prices dipped in July, coming in at USD 9,451 per ton on average, down from June’s USD 9,632 per ton.
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Mexico: Remittances rise at a rapid pace in June
August 3, 2021
Remittances reached USD 4.4 billion in June, representing a 25.5% year-on-year increase.
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Chile: Economic activity grows at record pace in June
August 2, 2021
Economic activity rose 20.1% year-on-year in June (May: +18.1% yoy).
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Colombia: Manufacturing PMI returns to expansionary terrain in July
August 2, 2021
The IHS Markit Manufacturing Purchasing Managers’ Index (PMI) came in at 54.2 in July, following June’s 48.3, logging the best result in a year.
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Colombia: Export growth cools in June
August 2, 2021
Merchandise exports rose 33.1% in annual terms in June, coming in below May’s 39.4% expansion.
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