SANTIAGO, Chile – The United Nations says the economy of Latin America and the Caribbean is expected to grow a lower-than-expected 3.5 percent this year.
The UN's economic body on Tuesday lowered an earlier 3.8 percent projection for the region because of uncertainty about the future of the world economy, slower growth in developed countries and a "less dynamic than expected" recovery for Argentina and Brazil.
Growth is expected to clock at 3.5 percent for Argentina and 3 percent in Brazil on the back of improved agricultural activity and investment.
The UN is also scaling back its 2012 forecast to 3.0 percent from an earlier view of 3.1 percent because of a slower global expansion hit by a recession in Europe, a slowdown in China and sluggish growth in the United States.
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