Brazil Economic Outlook
May 17, 2016Brazil’s economy sank into the deepest recession in recent history last year amid low prices for key exports, soaring inflation and depressed confidence levels. Moreover, as the economy plummeted so did President Dilma Rousseff’s political career. A wide-spread corruption scandal and the economy’s abysmal performance caused approval levels to fall to all-time lows and resulted in the commencement of impeachment proceedings last year. On 12 May, the Senate voted to continue with these proceedings, forcing Rousseff to step down for a maximum of 180 days while a trial is conducted. Vice President Michel Temer took over as interim president and his first task will be to find a way to halt the sinking ship. However, a number of daunting challenges lie in Temer’s path and recent economic data remain poor: retail sales returned to contraction in March and the manufacturing PMI fell to the lowest level in over seven years in April.
Brazil Economy Data
5 years of Brazil economic forecasts for more than 30 economic indicators.
Get a sample report showing all the data and analysis covered in our Regional, Country and Commodities reports.
|Bond Yield||12.93||0.86 %||May 25|
|Exchange Rate||3.58||-0.03 %||May 26|
|Stock Market||49,483||0.28 %||May 25|
Brazil Economic Growth
May 17, 2016A change in leadership will not be a magic bullet for Brazil’s economy and the recession is expected to continue throughout this year. FocusEconomics panelists see the economy contracting 3.7% in 2016, which is down 0.2 percentage points from last month’s forecast. For 2017, the panel sees the economy recovering slightly and growing 0.7%.
Brazil Economic News
May 24, 2016
In May, the consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundaçao Getulio Vargas) rose a seasonally-adjusted 5.4% over the previous month, which contrasted the 4.0% decrease recorded in April.
May 24, 2016
In April, the current account balance registered a surplus of USD 412 million, which marked the best result since September 2008 and notably contrasted the USD 6.8 billion deficit recorded in April 2015.
May 13, 2016
After over 20 hours of deliberations, Brazil’s Senate voted to move ahead with a trial against President Dilma Rousseff on 12 May in the ongoing political drama that has gripped Brazil for the past months.
May 13, 2016
In March, economic activity fell 0.4% over the previous month in seasonally-adjusted terms, according to the Central Bank’s monthly indicator for economic activity (IBC-Br, Indice de Atividade Economica do Banco Central).
May 11, 2016
Retail sales (excluding cars and construction) returned to contraction in March, falling 0.9% over the previous month in seasonally-adjusted terms.