Latin America appears to be enjoying an end of year growth spurt. We estimate that regional GDP growth accelerated to around 3% y/y in Q3, from a three-year low of 2.5% y/y in Q2. What’s more, growth is on track to accelerate to around 3.5% y/y in Q4. However, the turnaround has been uneven and driven in large part by a stimulus-fuelled pick-up in the Brazilian economy. Growth in most other countries has either been stable or slowed in recent months.
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