Latin America's GDP: Going South.
FOR THE FIRST TIME DURING THE 1990s, LATIN Americas Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. overall GDP GDP (guanosine diphosphate): see guanine. will fall, says the latest economic survey published by the United
Nations Economic Commission for Latin America Noun 1. Economic Commission for Latin America - the commission of the Economic and Social Council of the United Nations that is concerned with economic development in Latin America and the Caribbean (ECLAC ECLAC Economic Commission for Latin America & the Caribbean ).
ECLAC officials say GDP this year will likely slip 0.4%. They blame
financial crises abroad and natural disasters at home for the downturn.
The good news, says ECLAC Economist Hubert Escaith, is that the
region's economies are showing signs of growth during the last half
of the year. The bad news: The increase won't be enough to offset a
disastrous first half of the year when nearly every economy in the
region sunk into recession.
Annual % Change
'91 3.8
'92 3.2
'93 3.9
'94 5.8
'95 1.0
'96 3.6
'97 5.4
'98 2.3
'99E -0.4
SOURCE: ECLAC
COPYRIGHT 1999 Freedom Magazines, Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1999, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.
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