Level of activity and inflation
- Author: Economic Commission for Latin America and the Caribbean
- Main Title: Economic Survey of Latin America and the Caribbean 1998-1999 , pp 59-74
- Publication Date: December 1999
- DOI: https://doi.org/10.18356/89130232-en
- Language: English
Economic activity in Latin America and the Caribbean slowed considerably in 1998, with the growth rate of regional GDP falling from 5.4% in 1997 to 2.3% in 1998. In the first two quarters, the regional economy continued to perform as strongly as in 1997, which had been one of the best years in the last quarter century, but it then began to falter and started showing signs of negative growth towards the end of the year. This disappointing performance continued into the first half of 1999, and total growth for 1999 will probably be around zero. At the same time, since demographic growth is still rapid in most of the countries of the region, per capita GDP rose by only 0.8% in 1998, for a total increase of 16% since the beginning of the decade.
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