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ECLAC downgrades growth forecast for LatAm to 1.3 pct in 2019

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Christian Fernsby |
Brazil port
LatAm   The downgrade is due to a "complex external scenario"

The Chile-based United Nations Economic Commission for Latin America and the Caribbean (ECLAC) on Thursday lowered its 2019 economic growth forecast for the region to 1.3 percent.

Its previous growth projection for 2019, issued in December 2018, was 1.7 percent.

The downgrade is due to a "complex external scenario," mainly "greater deceleration forecast for the United States this year, which affects trade as well as the remittances destined for the subregion," said ECLAC.

The price of commodities "may also be negatively affected by an increase in trade restrictions," with energy products showing the steepest fall, said ECLAC.

According to ECLAC, economic activity in South America will rise from 0.5 percent growth in 2018 to 1.1 percent in 2019.

Meanwhile, Central America is expected to grow 3.1 percent this year,

ith slight downward trends in the majority of countries.

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