This week, pivotal economic updates from Chile, Mexico, and Colombia will illuminate the region’s diverse economic landscapes.
Mexico’s economic scenario is set for a slowdown, with early GDP figures for Q1 2024 expected to show a minor dip.
This reflects a cooling period after two strong years, aligning with forecasts of subdued growth ahead in 2024.
Chile’s economic indicators for March suggest a decrease following early-year surges.
Despite this dip, substantial first-quarter GDP growth and a rebound in domestic demand are anticipated. The mining sector, however, may not align with this positive trend.
In Colombia, the central bank is projected to reduce interest rates from 12.25% to 11.75%.
Experts cite tight monetary conditions, decelerating inflation, and soft domestic demand as justifications for continued rate reductions.
The bank’s upcoming quarterly report is expected to indicate a gradual easing cycle ahead.
Chile
- Retail sales for March, due on April 30, are likely to show a 3.6% increase from the previous year, recovering from a minor decline in February.
- Industrial production for the same month, also releasing on April 30, should reveal a 4.4% year-over-year rise, though slightly down from the previous month.
- The Economic Activity Index, set for release on May 2, is predicted to increase by 2.1% year-over-year, slightly lower than earlier months following robust gains.
Colombia
- A crucial Monetary Policy Meeting on April 30 may lead to a rate cut, continuing the easing trend noted in March.
- The central bank will also issue a quarterly monetary report later in the week, expected to show an uptick in Q1 growth and a slowdown in inflation.
Mexico
- Preliminary Q1 GDP figures, expected on April 30, predict a 2.6% growth year-over-year but a 0.2% quarterly contraction.
- Investment data for February, due out on May 2, anticipates a 12.9% yearly rise despite recent monthly declines, signaling a move towards steadier growth.
These updates provide a comprehensive snapshot of the economic health across key Latin American markets.