This week, the focus is on South America as key countries like Chile, Mexico, and Peru prepare to release their Q2 2024 GDP figures. Mexico is experiencing an economic slowdown, despite positive indicators like consumer confidence and wage growth.
Chile, on the other hand, is expected to see a decline in GDP after a strong Q1, indicating a negative production gap. Peru, on the contrary, is likely to show robust growth in Q2, surpassing expectations and narrowing its negative production gap.
Argentina is set to release its June economic activity index, potentially signaling the end of its recession in Q2. However, Mexico is facing a decline in internal activity and demand, despite optimistic consumer sentiment boosting retail sales.
Detailed Events by Country
Argentina
Analysts predict a slight decline in the June 2024 economic activity index, possibly marking the end of Argentina’s technical recession.
Chile
GDP figures for Q2 2024 are expected to show a decrease in growth, influenced by labor market weaknesses and reform uncertainties.
Mexico
Retail sales data for June 2024 is anticipated to show a slight decline, with final GDP figures for Q2 likely adjusted down.
Peru
Peru is set to report a significant increase in GDP for Q2 2024, driven by lower interest rates and potential government spending increases.
With these diverse economic landscapes, stakeholders and policymakers must remain vigilant to promote economic resilience and progress in South America.