General: The overall stability of the area continues to prevail. Domestic demand is picking up even though inflationary tendencies in some countries remain a major concern.
Argentina: Domestic demand continues to be strong; unemployment is slowly falling, but the consumer price index is still high. Government is in agreement with various large companies to freeze prices for essential consumer goods.
Industrial Production: + 7.1 percent in Q1 2006 compared to Q1 2005
Unemployment: 11.2 percent at the end of Q1; expected to fall under 10 percent early next year
Consumer Prices: + 11.6 percent in April 2006 compared to April 2005
External Debt: $108.6 billion in Q1 (61.3 percent of GDP) compared to $167.6 billion in Q1 2005 (108 percent of GDP)
Currency: Pesos 3.04 per US$1 as of May 17 (2.89 a year ago)
Steel production (in thousands of metric tons): 480 in April, 1839 in the first four months of 2006, 1759 in the first four months of 2005 (+ 4.5 percent)
Brazil: Domestic demand is picking up because of falling interest rates.
GDP: +3.3 percent P.A. in March compared to + 3.0 percent in February
Annual Inflation: + 4.6 percent in April for last 12 months compared to 5.3 percent in March
Industrial production: + 3.7 percent in Q1 compared to Q1 2005
Unemployment: 9.5 percent in Q1, slightly up compared to Q4 2005
Currency: 2.17 Real per US$1 as of May 17 (2.47 a year ago)
Steel Production (in thousands of metric tons): 2,416 in April, 9,603 in the first four months of 2006, 10,695 in the first four months of 2005 (- 10.2 percent)
Chile: Despite a recent softening of the copper price,
Chile's economy remains very buoyant and consumer confidence is still strong. Still, unemployment remains defiantly high.
Unemployment: 7.9 percent in Q1, same as Q1 2005
GDP: + 5.0 percent in March 2006 compared to March 2005
Consumer Prices: + 3.7 percent in April 2006 compared to April 2005
Industrial Production: + 7.6 percent in March 2006 compared to March 2005
Copper Export: $ 1,963 bn in April 2006, up 43 percent over April 2005
Currency: 5.21 Pesos per US$1 as of May 17 compared to 5.81 a year ago
Mexico: Just in time for the July 2 election, the economy is picking up steam, giving the ruling party a good chance to stay in power.
GDP: + 5.25 P.A. in January 2006 compared to January 2005
Industrial Output: + 9.7 percent in March compared to March 2005, - 1.34 percent compared to February 2006
Construction: + 9.4 percent in March 2006 compared to March 2005
Production of crude oil + natural gas: + 4.6 percent in March 2006 compared to March 2005
Automobile Output: - 2.1 percent in April 2006 compared to April 2005, automobile exports up by 14.7 percent for the same time periods
Inflation Rate: + 3.2 percent in April 2006 (latest 12 months)
Currency: 11.1 Pesos per US$1 as of May 17 compared to 11.0 a year ago
GDP: + 5.2 percent in January 2006 compared to January 2005
Steel Production(in thousands of metric tons): 1,385 in April, 5,536 in the first four months of 2006, 5,587 in the first four months of 2005 (- 0.9 percent)
Venezuela: Even if the oil bonanza is not taken into consideration, the economy is performing very well. The non-oil sector has staged a strong recovery from last year's recession.
GDP: + 9.4 percent in Q1, the fourth quarter in a row that growth is more than 9 percent.
Unemployment: Gradually coming down. 10.1 percent in March compared to 10.7 percent in February. Some experts forecast the rate to be around 7 percent by the end of the year.
Inflation: 0.6 percent in April; consumer prices went up 2 percent in the first four months of 2006, the lowest increase for this time period since 1998.
Currency: 2,539 Bolivars per US $1 as of May 17 (2,602 a year ago)
Steel Production (in thousands of metric tons): 415 in April 2006 (estimated), 1,695 in the first four months of 2006, 1,500 in the first four months 2005 (+ 12.4 percent)