Latin America Economy in February 2015

Source: OPEC 2/16/2015, Location: South America

In the 3Q14, Argentina's GDP, hurt by a fall in exports, investments and private consumption, shrank 0.8% y-o-y. Exports fell by 8.4% y-o-y and imports dropped by 15.2% y-o-y. Gross fixed capital formation decreased by 4.7% and private consumption shrank by 1.4%. Meanwhile, government expenditure rose 1%. In Chile, the central bank left its monetary policy interest rate unchanged last month at 3%. The decision was influenced by low growth and above-target inflation. The country's GDP advanced 0.8% y-o-y in the 3Q14, the weakest pace since the 2009 recession. This was the fourth straight quarter of deceleration in growth due to the contraction in mining investment.

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