Economic Survey of Latin America and the Caribbean 2007-2008

Macroeconomic Policy and Volatility

image of Economic Survey of Latin America and the Caribbean 2007-2008

The Economic Survey is one of ECLAC's flagship publications, and has been issued since 1948. This new edition covers the region's economic performance in 2007 and the first semester of 2008, and suggests growth estimates for this year.




Economic growth remained solid but slowed in 2007 despite sound macroeconomic management in recent years. Real output grew by 2.8%, compared with a 4.6% increase in 2006. A decline in construction activity and reduced credit expansion partly offset the impetus from improvements in the tourism sector. December-on-December inflation rose to 2.8%, which, though still moderate, surpassed the 2.3% registered in 2006, reflecting higher costs of furniture and household goods and the steep rise in, and pass-through of, international fuel and food prices.


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