Rio de Janeiro – Driven by the economic performances of Brazil, Mexico and Argentina, the Ifo/FGV Latin America Economic Climate indicator (ICE) eased from 70 in October 2016 to 69 in January 2017, in line with the downward trend that began in July 2016.
The indicator is computed by the German institute Ifo and the Brazilian think tank Fundação Getulio Vargas, using data from the Ifo World Economic Survey (WES). The indicator numbers were made public this Tuesday (14) by the Brazilian Institute of Economics at Fundação Getulio Vargas (Ibre-FGV).
The drop in the indicator is the result of deteriorating economic climates in the region’s key players Brazil, whose score was down 4 points, Mexico, down 5, and Argentina, down 8 points.
*Translated by Gabriel Pomerancblum
