Goldman Sachs provides a regional update on Latin American macro activity, highlighting Q1 GDP beats in Colombia and Peru alongside weaker-than-expected March activity in Brazil.
Key Takeaways
- 1.Brazil's March real activity missed consensus with a -0.67% mom variation, though Q1 overall growth remained robust at 1.4% yoy.
- 2.Colombia's 1Q26 GDP growth firmed to 0.6% qoq sa, slightly beating consensus and driven by strong domestic demand and investment.
- 3.Mexico's central bank is expected to signal the end of its rate normalization cycle following a split 3-2 decision to cut to 6.50%.
Table of Contents
- ARGENTINA
- BRAZIL
- COLOMBIA
- ECUADOR
- MEXICO
- PERU
- LA-IT5 Headline Inflation
- LA-IT5 Policy Rate
- Disclosure Appendix
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Authors
Alberto RamosSergio ArmellaSantiago TellezJorge Moscoso
Securities
Selic RateBRLUSDCopper
Themes
Resilient 1Q26 Regional GrowthAnchoring of Inflation Expectations
Regions
Latin AmericaArgentinaBrazilColombia