Latin America and the Caribbean will enjoy a fourth consecutive year of economic growth in 2006, reports a U.N. economic commission for the region.

The U.N. Economic Commission for Latin America and the Caribbean said the region’s gross domestic product will grow by about 5 percent in 2006.  The forecast was made in a new report called “Economic Survey of Latin America and the Caribbean, 2005-2006.”  In 2007, the region’s gross domestic product is predicted to be 4.5 percent, which the commission said will be within the context of a moderate slowdown in the world economy.

The commission said the present economic expansion is spread across Latin America and the Caribbean, ranging between 3.5 percent and 6.5 percent for most countries of the region.  The exceptions are Argentina, the Dominican Republic and Venezuela, with growth rates of over 7.5 percent, while in Haiti the growth rate will be at about 2.5 percent.

Caribbean nations are expected to grow in 2006 by 6.3 percent, South America by 5.4 percent, and Mexico and Central America by 4.1 percent, the comission said.

In an earlier report released in April, the commision had estimated that growth in the United States in 2006 would be slightly below the 3.5 percent rate achieved in 2005, probably approaching 3 percent.

The commission also has said that the implementation of the U.S. free-trade agreement with Central America and the Dominican Republic will significantly increase the rate of investment in the Latin American region.