Mixed end to a disappointing year

The last round of economic data released this year pointed to a mixed performance in Latin America. Growth seems to have remained robust in Colombia in Q4 – and to have strengthened in Brazil – but activity faltered For the region as a whole, 2019 is likely to be remembered as year of political turmoil and disappointing economic performance. The region’s financial markets have, at least, ended the year on a positive note. But we expect that market conditions across the region will soften next year, with equities faltering and most currencies weakening against the USD.