EXCLUSIVE Autos and energy lead multinational index
Companies saw an average revenue growth of 11.2 percent in second quarter
The latest Multinational Index from Latin Business Chronicle reveals strong quarterly growth for companies operating in the auto and energy sector, although consumer markets also performed well. The index measures quarterly performance of 25 multinational companies with regional operation, based on their revenues in dollar terms.
Peru heading for steepest drop in decade, says former Minister
Investor optimism about growth in July hit lowest point since Humala was elected two years ago
The government of Peru is underestimating the impact of falling export revenue on the commodity-dependent economy, which is heading for its slowest period of growth in a decade, said former Finance Minister Pedro Pablo Kuczynski. Growth will likely remain around 5 percent through 2015 as slower global demand depresses the price of metals that account for close to 60 percent of exports, Bloomberg reports.
Brazil cancels advance team to U.S.
Group was to travel in preparation for state visit
Brazil canceled a trip by an advance team to Washington to prepare for a visit by President Dilma Rousseff (left) that might be called off after revelations the United States spied on her private communications.The visit was meant to highlight a recent improvement in relations between the two biggest economies in the Americas, as well as Brazil's emergence over the past decade as a vibrant economy and regional power, Reuters reports.
Chile's economy grew at fastest annual pace in July this year
Growth was 5.3 percent compared to the same month in 2012
Chile's economic activity grew 5.3 percent in July, its fastest annual pace since the start of the year, spurred by domestic consumption and strong mining performance. But the rise was still below analysts' forecast of 6.1 percent. Last week, unemployment hit a low not seen in years, while manufacturing production posted a surprise bounce in July, Reuters reports.
Central bank: Argentina's economy to grow 4 percent in 2013
Statistics agency Indec said growth for first half of year was 5.1 percent
Argentina's economy will likely grow about 4 percent this year, said Mercedes Marco del Pont, president of the country's central bank. The forecast comes about a month after President Cristina Fernández de Kirchner said the economy would expand by at least 3.5 percent in 2013. Last year, the country's economy expanded 1.9 percent, according to the national statistics agency, Nasdaq reports.
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