Brazil Seen Leading Latin American Economic Resurgence

Central Bank May be Forced to Reverse Course

Economic growth in Brazil and other Latin American countries, on pace for the weakest performance in three years, is expected to improve in 2013 thanks to stronger domestic consumption and China's ongoing demand for commodities, according to the Economist Intelligence Unit.

Real Gross Domestic Product will increase an estimated 3.8% in Latin America next year from 3.1% this year, the group's analysts said in a recent report. The expected improvement will be driven in large part by Brazil, where GDP growth may jump to 4.2% from 1.5% in 2012.

"South American economies will continue to be supported by China's demand for soft and hard commodities exports, even if the period of sustained increases in both prices and volumes has come to an end," the group wrote. Also, historically low interest rates in the U.S. and other major economies "will continue to benefit those Latin American economies that are well integrated into global financial markets."

The Ibovespa index, Brazil's stock-market benchmark, is up nearly 10% since the middle of 2012 as the country's central bank rate cuts bolstered economic prospects.

CME Group's U.S. dollar-denominated Ibovespa futures, launched October 22, offer investors access to the expanding Brazil market through a single trade and provide risk mitigation through CME Clearing. The new Ibovespa contract complements CME Group's existing slate of equity index products, including U.S.-based S&P 500, Dow Jones and NASDAQ-100 contracts.

For more information, join CME Group at an Ibovespa breakfast briefing November 1 at the annual Futures Industry Association Expo in Chicago.

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