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Below is a list of our Latin America Publications for the last 6 months. If you are looking for reports older than 6 months please email info@pantheonmacro.com, or contact your account rep
Please use the filters on the right to search for a specific date or topic.
In one line: A sharp contraction, but output remains well above pre-pandemic levels.
Colombia’s solid recovery continued in Q1, thanks mainly to robust private consumption...
...But momentum is already fading on a sequential basis, due to deteriorating domestic fundamentals.
High inflation, tighter monetary policy, and deteriorating external conditions will be key drags.
Mexico’s total industrial output contributed to GDP growth in Q1, but the outlook is overcast.
High inflation, deteriorating global supply conditions, and increased domestic uncertainty, remain drags.
Argentina’s inflation nightmare continues, despite the government’s efforts to put a lid on the uptrend.
In one line: The solid recovery continued in Q1, but momentum is already fading on a sequential basis.
Rising export prices continue to support growth, but they are also driving higher-than-expected inflation.
Global inflation pressures from food and energy will keep restrictive bias on monetary policy.
Most countries will continue to tighten, despite the absence of domestic demand-driven inflation.
In one line: The aggressive tightening continues as the inflation outlook deteriorates.
Banxico delivered another bold rate hike, and their tone has turned even more hawkish.
Inflation continues to head north in Brazil, due mainly to the effect of global supply shocks.
Further rate hikes will help to reduce inflation expectations, but will bring the economy to its knees.
In one line: A solid Q1, but conditions are deteriorating again.
Brazil — Hurt by increased risk aversion
Mexico — Increased global uncertainty hits the BVM
Colombia — Under pressure, despite solid dividends
In one line: Underlying pressures remain elevated, but headline inflation is peaking.
Retail sales in Brazil rebounded in Q1, despite high inflation and tighter financial conditions...
...The reopening and further fiscal support have driven the recovery, but momentum will ease soon.
The real income squeeze and further interest rate hikes will hurt, but consumption won't collapse.
In one line: A solid Q1, but growth momentum likely will start to ease soon.
April inflation in Mexico undershot expectations, but the near-term outlook remains challenging.
The data brought modest comfort to policymakers, but the tightening cycle will continue this week.
In Colombia, April inflation surprised to the upside; BanRep will keep hiking, as it is far behind the curve.
In one line: Slightly better-than-expected, but challenges remain.
The BCCh delivers a bigger-than-expected rate hike, and leaves the door open for further tightening.
Inflation rose in April faster than policymakers expected, keeping up the pressure for more rate hikes.
The CLP sell-off, high commodity prices, and the lagged effect of policy stimulus remain a nightmare.
In one line: Terrible, and set to increase further over the next few months.
In one line: A bigger-than-expected hike, with more to come.
In one line: Inflation is rising rapidly, and conditions remain challenging.
The COPOM increased rates by 100bp, as widely expected, but has tweaked its near-term plans...
...It has opened the door for a hike of “lower magnitude” in June; this will be the last of the cycle.
Inflation in Peru is running wild despite the implementation of subsidies; the BCRP will hike next week.
Brazilian Real — Under pressure as the USD rebounds
Colombian Peso — Correcting due to high uncertainty
Chilean Peso — Elevated domestic and external risk
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