INSUBCONTINENT EXCLUSIVE:
From October 14 to 18, 2024, Latin America faces a crucial week of economic revelations and policy decisions
Brazil, Chile, Colombia, and Peru will release important economic indicators and hold central bank meetings.These events will shape the
interconnected nature of Latin American economies and their shared challenges
(Photo Internet reproduction)BrazilThe week of October 14 to 18, 2024, will reveal key economic activity data for Brazil
Analysts expect this information to help complete the growth picture for the third quarter.Preliminary data indicates a 0.1% increase in
industrial production and a 0.8% drop in retail sales
Despite a decline in July, economists anticipate a slight recovery in August.This suggests a potential GDP increase for the third quarter,
even if activity contracts slightly in September.ChileOn October 17, the Chilean Central Bank will hold its Financial Policy Meeting
Analysts predict the bank will lower its benchmark interest rate to 5.25%.Tight monetary conditions, pessimism, weak labor markets, slow
growth, and ongoing economic sluggishness support this decision.Well-anchored inflation expectations and declining United States interest
rates provide flexibility for monetary policy
However, current inflation and short-term expectations remain high, limiting room for larger cuts.ColombiaIn Colombia, economic activity
likely fell in August due to attacks on oil infrastructure, a transport strike, and fuel shortages for aircraft
Despite these challenges, data still points to third-quarter GDP growth exceeding central bank forecasts.Industrial production also faced
setbacks from tight monetary conditions and populist government policies
its upward trend in August, indicating third-quarter GDP growth that surpasses central bank forecasts
year-on-year increase driven by mining and manufacturing, supported by construction, services, and trade
Despite this positive outlook, prolonged political uncertainty and restrictive monetary conditions remain significant concerns.These
Policymakers and analysts will closely monitor these developments to gauge the effectiveness of current strategies.
