There have been further signs during the past month that Latin America has entered a new era of sluggish economic growth. With most of the official data for the fourth quarter now released, our calculations show that regional GDP growth slowed to 2.6% y/y in Q4 of last year (from 2.9% y/y in Q3). And our Tracker suggests that output increased at a similar rate in Q1 of this year. Looking ahead, with headwinds brewing, we expect growth to decelerate further.
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