Brazil is emerging from a recession caused by the coronavirus, Economy Minister Paulo Guedes said hours after the publication of a closely-watched indicator showing activity surged in the third quarter.
Brazil's government on Tuesday outlined a long-term roadmap for the economy, based on three scenarios of economic and fiscal reforms that could lift gross domestic product per capita by as much as 37% over the next decade.
Investment flows to Latin America are expected to halve in 2020 from the US$ 164 billion received last year, according to UNCTAD's World Investment Report 2020.
The Central Bank of Uruguay (BCU) released the report of the country's quarterly economic situation, which reports that the Uruguayan economy grew by only 0.1% year-on-year and 0.3% in the second quarter of the year, compared to the first three months of the year, when it registered a 0.1% drop.
Brazil’s economy rebounded strongly in the second quarter after having shrunk in the first, official figures showed on Thursday, indicating Latin America’s largest economy comfortably avoided falling back into recession.
Hit by five years of economic slowdown, Latin America's economy will grow by barely 0.5% this year, the United Nations economic commission for the region said on Wednesday, well below the 1.3% projected in April.
China on Wednesday reported surprisingly weaker growth in industrial output and retail sales for April, reinforcing expectations that Beijing needs to roll out more stimulus measures as the trade war with the United States escalates.
Latin American stocks in the region's main markets closed on Tuesday at new highs on the positive outlook for the ongoing US/China trade talks in Beijing. Brazil's Bovespa index ended trading above 92,000 points for the first time ever after hitting several record highs last week.
Latin America's economic growth is set to come in lower than expected this year, as US protectionism and widespread wariness of emerging markets put a drag on the region, a UN panel said Thursday. The Economic Commission for Latin America and the Caribbean (ECLAC) slashed its growth forecast for the region by 0.7 point to 1.5%, saying the complex global scenario had dimmed the outlook since its last report in April.
Brazil's economy grew by a percentage point in 2017 after two years of contraction, government figures showed Thursday, confirming the South American giant's recovery from one of the worst recessions in its history. The agro-industrial sector led the way with 13% growth last year, trailed by the service sector, which showed 0.3% growth. Industrial output remained stable.