Industry

Latin America’s industrial production continued to expand in 1956 at a rate exceeding the previous year by 2 per cent, but there was a further—and considerable— reduction in the quantum rate of growth. The reasons for this varied from one country to another, but one— namely a falling off in demand—was common to all of them. This in turn was mainly the result of a decline in agricultural output, which reduced the purchasing power of the largest group of consumers in the region. Other factors were the deterioration in the terms of trade and the measures introduced in some countries to combat inflation and to eliminate disequilibrium in the balance of payments.

Sustainable Development Goals:

Decent Work and Economic Growth

Industry, Innovation and Infrastructure

Peace, Justice and Strong Institutions