The August surveys of expectations conducted by Central Banks in the region indicate that the simple average of growth expectations in 2020 decreased by 0.1 percentage points from -5.9% to -6.0% and the simple average of the inflation expectations remained constant with respect to July’s surveys. However, the changes in both inflation and growth expectations are heterogenous among the countries analyzed.

In the case of expectations for 2021, the August surveys indicate that the simple average of growth expectations increased by 0.1 percentage points from 3.8% to 3.9% and the simple average of the expectations for inflation remained constant with respect to July’s surveys. The countries that saw increases in growth expectations were Brazil, Mexico, Paraguay and Peru. In the case of inflation, Guatemala and Mexico registered a decline in 2021 inflation expectations.