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Report: Latin American Manufacturing Will Increase Now, Next Year

Latin America's three largest economies will lead an increase in manufacturing output during the remainder of 2008 and in 2009, according to the report Manufacturers Alliance/MAPI Latin America Outlook: 2008-2009 from the Manufacturers Alliance/MAPI. The organization's report focuses on Brazil, Argentina, and Mexico - responsible for more than 80 percent of Latin America's manufacturing output and raises the forecast for the region's overall growth to 4.9 percent in 2008. Manufacturing production is predicted to ease back to a 4.4 percent growth rate in 2009. Sectors expected to expand include automotive, transportation equipment, machinery and equipment, and electrical machinery and apparatus. "Rising inflation, coupled with currency appreciation, will slow Brazilian-based manufacturers," says MAPI's Fernando Sedano, Ph.D., the report's author. "Higher interest rates and weak U.S. demand will put a ceiling on Mexico's manufacturing activity; and Argentina's rising costs - among other macroeconomic concerns - will likely curb the strong expansion of the past five years."

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