IMF lifts Latam, Caribbean 2023 GDP growth estimate to 2.3%
© Reuters. FILE PHOTO: The International Monetary Fund logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. REUTERS/Yuri Gripas/File Photo - The International Monetary Fund raised its 2023 output growth estimate for Latin America and the Caribbean to 2.3% from July's 1.9% due to faster expected growth in Brazil and Mexico, the fund said in a report on Tuesday.
Strong agriculture and services sector activity in the first half of 2023 was behind the IMF's upward growth revision of Brazil's output to 3.1% from 2.1% in July. Mexico's growth was last week revised upward by 0.6 percentage points to 3.2%, with the IMF citing a post-pandemic recovery taking hold in construction and services, while the economy still saw benefits from U.S. demand.
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