UN: Latin America to grow by 3.8 pct in 2013

AP News
Posted: Dec 11, 2012 11:25 AM

SANTIAGO, Chile (AP) — The UN's economic body for Latin America and the Caribbean says the region will see strong economic growth in 2013 despite Europe's fiscal woes and a struggling U.S. economy.

The ECLAC expects the region to expand by 3.8 percent in 2013, mainly due to a recovery of Argentina and Brazil and higher internal demand in several nations.

The estimate is slightly lower than ECLAC's previous forecast of 4 percent.

ECLAC expects the region to close 2012 with a 3.1 percent growth. That is higher than expected numbers for world expansion of 2.2 percent but lower than the region's 4.3 percent growth last year.