This document contains an analysis of and statistics on the economic performance of the region as a whole and of individual Latin American and Caribbean countries in 2001. Regional output grew at a very slow pace (0.5%) in 2001 and growth prospects for 2002 are not promising. This situation is directly linked to the global economic crisis, which is affecting the region primarily through trade channels in the midst of unstable world financial markets. Given the scope of these adverse external factors, however, the region's economies succeeded in averting serious domestic or external disequilibria. The one exception was Argentina, which has been in the throes of a crisis for the last three years. Inflation has continued to abate, and the increase in the external deficit was very small. The Preliminary Overview is prepared every year by ECLAC's Economic Development Division in collaboration with the Statistics and Economic Projections Division, the ECLAC sub-regional offices in Mexico City and Port-of-Spain, and the ECLAC national offices in Bogota, Brasilia and Buenos Aires. It draws on statistical material provided by central banks and statistical offices of the countries in the region.