Economic Survey of Latin America 1958

image of Economic Survey of Latin America 1958

Published since 1948, this report examines various aspects of the previous year’s macroeconomic situation in the region and makes projections for the coming months. The study also includes country notes that review the performance of the main economic indicators in the period analysed.



Commodity exports

At the close of 1958, the depressed conditions which had affected the international commodity market since the latter part of the previous year showed no clear signs of any improvement. Thus the statement in the relevant chapter of the Economic Survey of Latin America 1957 was con-firmed, namely, that the recent economic recession in the United States was merely an additional factor — though none the less important for that — in the downward trend experienced by some primary commodities as a result of the growing imbalance between world supply and demand. In fact the United States recession reached its lowest ebb in April 1958, and thereafter the majority of the indices of economic activity began to show a steady recovery. At the same time the previously pursued policy of cutting down inventories was discontinued. But, in spite of this, no substantial improvement occurred in conditions on the primary commodity market. Indeed, some commodities are now in a less favourable position than they were at the beginning of 1958.


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