Growth Outlook Deteriorates

Growth Outlook Deteriorates

Funds

S&P and BofA-Merrill Lynch have chopped their 2009 LatAm GDP growth forecast to 0.7%. Previously, S&P had expected the region to expand 2.1% and BofA-ML estimated 1.5%. This would be the lowest rate of average growth since 2002, when the region, amid various economic crises expanded by just 0.5%, S&P notes. “Lower domestic demand will be a dominant feature this year,” says BofA-ML. “Fixed capital formation should suffer most, in spite of fiscal stimulus programs trying to support infrastructure

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