Latin American economy seen slowing in 2012

OECD report predicts Latin America's economic growth to slow for first time in a decade

Associated Press

CADIZ, Spain (AP) -- A report by two international organizations says economic growth in Latin America will ease from 4.4 percent in 2011 to 3.2 percent in 2012, the first slowdown in nearly a decade.

But the Organization for Economic Cooperation and Development and the Economic Commission for Latin America and the Caribbean said the region's economy would accelerate again by 4 percent in 2013.

The organizations said Latin America's outlook remains relatively positive, but is exposed to uncertainty in the global economy. They urged governments to strengthen growth and counter risks.

The report was released Friday in this southern Spanish city on the first day of the Iberoamerican summit that brings Latin American leaders together with those of Spain and Portugal, two countries badly hit by the economic crisis.

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