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Latin American economic growth just 0.5 % this year: UN

A woman chooses fruit at a market in Rio de Janeiro, Brazil, on May 26, 2015The economy of Latin America and the Caribbean will grow just 0.5 percent this year, half the previous forecast and the lowest level in six years, the United Nations said Wednesday. This is due mainly to major economic contractions expected in Brazil and Venezuela, said the Economic Commission for Latin America and the Caribbean, a UN agency based in Chile. An external factor fueling the stagnation in Latin America and the Caribbean is slow world economic growth in 2015, in particular in China and other emerging economies, except for India, the report said.

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