Latin America's manufacturing sector is poised for moderate growth. MAPI projects that the region will see 2.1% growth in 2013 and 2.8% growth in 2014. Developments in Brazil and Mexico will drive much of this activity, according to report author Fernando Sedano, MAPI economic consultant. "Brazil's manufacturing output rebound is aided by a host of tax breaks implemented in late 2012 intended to spur demand, deplete inventory and drive production," he said. "Mexico's short-term outlook continues to hinge heavily on the U.S. industrial cycle, but we remain confident that the rebound expected for later this year will continue in 2014."

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