Level of activity and inflation
- Author: Economic Commission for Latin America and the Caribbean
- Main Title: Economic Survey of Latin America and the Caribbean 1999-2000 , pp 61-75
- Publication Date: December 2000
- DOI: https://doi.org/10.18356/28c639e5-en
- Language: English
Adverse developments in the international economy were a key factor in the region’s performance in 1999. worsening external financing conditions and lower non-fuel commodity prices resulted in a net transfer of resources from latin america and the Caribbean to the rest of the world for the first time since 1990. this, in combination with weaker domestic demand, led to a sharp slowdown in activity in the region for the second straight year, and GDP growth was consequently flat (0.4%), following expansions of 2.1 % in 1998 and 5.4% in 1997. as the region’s population growth rate is still high, thi s translated into a 1.2% reduction in per capita output in 1999. as a result, this indicator of well-being ended with an improvement of just 10% for the decade as a whole.
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