Manufacturing production plummeted in Latin America during the first quarter of 2009, accelerating a freefall that began in late 2008, and will remain weak throughout the year before improving in 2010, according to the Manufacturers Alliance/MAPI Latin America Manufacturing Outlook, a bi-annual analysis that examines the latest trends and provides a near-term forecast for 16 major industries.

The report focuses on Latin America’s three largest economies- Brazil, Argentina, and Mexico- as these countries are responsible for more than 80% of the manufacturing output in the region. MAPI forecasts that overall manufacturing output in Latin America will decline 7.7% in 2009, a significant drop from 0.9% growth forecast in the December 2008 report. The report anticipates, however, …