Economy

Latin America Is Grinding To A Halt in 2014 – Business Insider


Latin America’s economies, hit by falling investment, will grow just 1.1 percent in 2014 — their lowest level in five years, a UN commission on the region said Tuesday.The poor performance of several of Latin America’s biggest economies dragged down growth across the region, found the United Nations Economic Commission for Latin America and the Caribbean ECLAC.Argentina’s economy will contract by 0.2 percent this year and Venezuela’s by 3.0 percent, it said. Regional giant Brazil’s will grow just 0.2 percent.The figures are the latest confirmation of the end of Latin America’s so-called “golden decade” of commodities-fueled growth.The International Monetary Fund had made a similar diagnosis in October, forecasting regional economic growth of 1.3 percent for 2014, the lowest in five years, and 2.2 percent in 2015. via – Business Insider

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