Friday's earthquake and tsunami have left parts of Japan's economy frozen, but analysts forecast that it will bounce back later this year. Some of the country's leading producers, including the world's biggest carmaker, Toyota, have closed all of their plants in the country.
Inflation and production diversification must be the top priorities of emerging economies such as Argentina warned Nobel Prize Joseph Stiglitz during an IMF sponsored forum on “Macro and growth policies at the wake of the crisis” which took place in Washington and convened top line economists and decision makers.
“There is no evidence that Argentina has learnt the lesson from the 2001 crisis”, said Carmen Reinhart one of the most influential US economists and an expert in Latin America, who has worked for the IMF, in Wall Street and teaches at the University of Maryland.
Retail prices in Brazil, as measured by the benchmark IPCA index, rose 0.8% in February, down from 0.83% January, the national statistics agency said in a report distributed in Rio de Janeiro Friday.
Argentina's automotive industry made fewer cars in February than it did the previous month but output was up from the same month a year ago.
Brazil grew at its fastest pace in 24 years in 2010, expanding 7.5% on strong consumer demand but other complementary data also showed the economy is feeling the strains of overheating.
Argentina’s January trade surplus in January confirmed the shrinking tendency increasingly present all along 2010 as imports’ growth outpaced exports by two to one.
The Financial Times warns that in spite of the current optimism about the performance of the Brazilian economy, the country could be heading to a ‘sub-prime’ crisis ‘worryingly’ similar to that experienced by the United States.
Brazil’s economy will pick up speed in 2012, said President Dilma Rousseff on Monday addressing northeast governors concerned that recent announced budget cuts could limit economic activity and support for the area that depends from federal handouts.
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.