Macroeconomic Forecast El Salvador

BMI View: El Salvador's industrial production index continues to reflect the country's weak economic recovery, rising just 0.2% year-on-year (y-o-y) in October, down from an already weak 0.4% y-o-y in September. While the economic activity index gives a little more cause for encouragement, increasing 2.5% y-o-y in October, we see little threat to our forecast for weak real GDP growth of 2.1% in 2011.

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