Latin America economic outlook largely positive

23 April 2010 19:10  [Source: ICIS news]

HOUSTON (ICIS news)--The 2010 economic outlook for Latin America and the Caribbean was largely positive and in agreement with a study on the region, plastic resin market participants said on Friday.

Market sources in Latin America agreed with an International Monetary Fund (IMF) survey published in April, projecting a strong recovery in many commodity-exporting, financially integrated economies, which account for about two-thirds of the region’s GDP.

Brazil’s growth was projected at 5.5%, Chile’s at 4.75% and 6% for 2011, Mexico’s at 4.25% for 2010 and Peru’s at 6.25%, according to the IMF study.

Strong rebounds were also expected for Bolivia and Paraguay, but the recovery would be delayed and weak in Venezuela, the IMF survey said.

Sources in Latin America said a healthy economy remained the dominant factor driving Brazil’s strong resins markets.

Activity in Chile was said to be approaching normal, as infrastructure and transportation no longer posed major challenges, according to local sources. PVC consumption in other countries in the region was said to be steady.

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By: Ron Coifman
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