Good and not so good news from Argentina. Merval, the main index of the Buenos Aires Stock Exchange, rose 0.79% to 32,505.59 points on Friday, a new settlement record that marked the 13th consecutive session of gains to the Argentine stock market. Merval had a weekly gain of 7.11%.
Industrial output in Brazil rose for a second straight month in May, government data showed on Tuesday, underpinning hopes that the economy will not fall back into recession despite an escalating political crisis.
Brazil’s auto industry produced 174,200 units last month, down 19.5% from August and a whopping 42.1% from September 2014, the national Association of Car Manufacturers, or Anfavea, said on Tuesday.
Bilateral trade between Mercosur two main partners, Brazil and Argentina (first and third largest economies in Latin America) dropped 21.2% last year and with a 139 million dollars deficit for Argentina, according to the Argentine Commerce Chamber, CAC.
Argentina’s industrial output rose 7.9% on the year in April and was down 0.2% on the month, the country's manufacturers association, UIA, said in a statement. In the first four months of the year industrial output was 9.2% higher than the same period in 2010.
Argentina's industrial production in January continued to expand at a quick pace, led by strong output of machinery and equipment, food, non-metallic minerals and chemicals, a local think tank reported Wednesday.
India is likely to take the fourth position in the global automotive market by 2015, according to a study conducted by Booz & Co. Currently that spot is held by Brazil, another emerging market, which is likely to give India a challenge.
Land Rover's global sales almost doubled last month, with demand for the 4x4 vehicles growing strongly as the world economy recovers.
The Brazilian automotive industry will invest 11.2 billion US dollars over the next two years to 2012, an amount that tops the 8.1 billion of the three preceding years, local media said Saturday.
Toyota Brazil has agreed to recall an unspecified number of Corollas locally manufactured because of the risk of sudden acceleration according to a statement from the country’ Ministry of Justice website.