Uruguay’s consumer price index in August was 0.56%, the lowest increase since the same month in 2005 helping to bring down the twelve-month index to 7.57% from 8.25% and giving the government a relief.
A surge in fresh food prices has pushed Argentina’s August consumer inflation to one of the highest of the year, 2% over the previous month, according to private consultant estimates and published in the Buenos Aires press.
Brazil's economy expanded at a softer pace in the second quarter as a strong currency fueled a flood of cheap imports and industrial activity had its worst performance since the third quarter of 2009.
US authorities announced legal actions against 17 major banks for losses on mortgage-backed investments that cost taxpayers tens of billions of dollars. The Federal Housing Finance Agency said it was taking action against banks including Goldman Sachs, Barclays, Bank of America, Deutsche Bank, and HSBC.
Argentina’s powerful industries union, UIA, called on Friday for dialogue and ‘national unit’ in order ‘to bring together a project of development’, and forecasted that if this is achieved the country could triple its GDP in the next twelve years.
Fears that the US economy is stalling and may be heading back into recession caused a severe slump in stock markets around the world on Friday. With European indexes already shaken by concerns with Greece and the Euro, worse-than-expected US jobs data drove investors to unload stocks.
China appealed the World Trade Organization's finding in July that its export controls over raw materials including coke, zinc and magnesium violate global trading rules.
US President Barack Obama sharply cut estimates for US economic growth, underscoring the difficult challenge he faces in spurring a stronger recovery and creating more jobs.
Argentina’s Deputy Minister of Economy, Roberto Feletti stated on Thursday that the idea of the government is to “reduce the level of unemployment to 5%” in the coming two years.
Brazil's trade surplus grew more than expected in August as the value of exports climbed to its highest this year, outpacing strong import growth.