Brazil Economic Outlook
August 8, 2017President Michel Temer survived the vote on 2 August in Congress and avoided the possibility of being tried for corruption. An interruption of the government‘s reform agenda was thus sidestepped for now, although political noise is still high. The government is trying to pass a critical pension reform by October and a tax overhaul by the end of the year, two badly needed measures to correct imbalances in the hobbled economy. However, Temer is not off the hook yet and is facing abysmal approval ratings along with the likelihood that the public prosecutor’s office will file more corruption-related cases against him in the coming months. Meanwhile, economic data has been mixed in recent months, suggesting that the recovery remains shaky. Industrial production growth stuttered in June and the manufacturing PMI fell in July, although a recent increase in commodities prices bodes well for exports.
Brazil Economy Data
5 years of Brazil economic forecasts for more than 30 economic indicators.
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|Bond Yield||10.11||0.80 %||Aug 16|
|Exchange Rate||3.15||-0.54 %||Aug 16|
|Stock Market||68,594||0.35 %||Aug 16|
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Brazil Economic Growth
August 8, 2017After two consecutive downgrades to Brazil’s outlook, our panelists held their forecasts unchanged this month. The shaky political scene is dampening confidence in the economy, however an aggressive loosening of monetary conditions and low inflation will provide support to activity. The FocusEconomics panel sees GDP expanding a meagre 0.4% in 2017. The recovery is seen gaining speed in 2018 and GDP should increase 2.0%.
Brazil Economic News
August 9, 2017
Consumer prices in July rose 0.24% over the previous month, which contrasted June’s 0.23% decrease.
August 8, 2017
The Brazilian real (BRL) rallied to the strongest value since May in August, after a volatile few months dominated by worsening political instability in the country.
August 4, 2017
In June, industrial production growth was flat over the previous month in seasonally-adjusted terms, which was a deterioration from May’s revised 1.2% increase (previously reported: +0.8% month-on-month).
August 2, 2017
Conditions in Brazil’s manufacturing sector deteriorated slightly in July.
July 28, 2017
Brazil’s current account balance recorded a fourth consecutive surplus in June, coming in at USD 1.3 billion.