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Rebounding Economy Sustained by Expanding Manufacturing Sector
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Emerging Latin America's economic growth rebounded to 2.2% in Q1 2017 supported by a strong growth in the manufacturing sector. The Manufacturing Index of Industrial Production growth rate for the region was 3.7% in Q1 2017. Panama registered the strongest manufacturing sector growth of 9.6%, while Chile’s manufacturing sector continued its downward trend, contracting by a further 0.4% in Q1 2017. Despite uncertainty created by the Trump Administration, Mexico’s economy grew by 2.7% in Q1 2017, higher than the 2.2% registered in Q4 2016. Colombia continued to struggle with its economic growth registering only 1.3% growth in Q1 2017. Colombian government had increased tax rates which impacted overall consumption expenditure in the economy. Among Latin American countries, Chile registered a dismal growth of 0.1% in Q1 2017 pertaining to negative consumer sentiment and shrinking mining sector output wherein Mining Index of Industrial Production shrank by 13.4% in Q1 2017. On one end, an anticipated increase in prices of copper is expected to offer respite to the Chilean economy. On the other end, Panama is continuing on its streak of strong economic growth. In Q1 2017, Panama’s economy grew by 6.2%, a sharp increase from 4.5% registered in Q4 2016. This was driven by a three-year high growth rate of 7.5% of the service sector. Country Coverage – Latin America· Chile· Colombia· Mexico· PanamaYear, Quarter and Month Coverage• Yearly Data: 2012 – 2021• Quarterly Data: Q1 2012 – Q1 2019• Monthly Data: January 2012 – March 2017
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