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On the rebound

Here's how South American GDPs have rebounded in the first quarter of 2010, compared to the same quarter of 2009 (and Ecuador hasn't published yet, so no number there). The main source material is this report out of the Paraguay Central Bank (yes, this humble scribe really is wonky enough to read Paraguay macro-stuff...sad, innit?)

click to enlarge

So will somebody please tell Peru that it isn't even on the podium, let alone a freakin' miracle? And before all the Venezuela doomsters pipe up, it should be noted that Venezuela has just passed Argentina to become LatAm's third biggest economy (after Braz and Mex). It was also growing its GDP in 1q09, something places like Brazil and Chile failed to do.