The Organization for Economic Cooperation and Development (OECD) expects Brazil to grow 1.8% this year and Mexico 2.5%. For both, this would represent a slowdown compared to the 3.1% growth seen in 2023.

In the region, Brazil has already begun to cut interest rates and Mexico is expected to begin its decline soon, which could boost growth in the region's two largest economies. The OECD expects that the decline in the economy in Argentina will be worse than expected.