Brazil Economic Outlook
September 13, 2016Brazil’s tattered economy improved in the second quarter, recording the smallest contraction in a year. The result came on the back of a less abysmal performance from the domestic economy, although broad-based declines were still recorded throughout. The economy appears to have picked up from rock bottom, but economic data is still poor. The unemployment rate hit a multi-year high in July and the current account—which had been a bright spot in Brazil’s economy—recorded a second consecutive deficit. On a positive note, political turbulence is likely to subside after Dilma Rousseff was impeached on 31 August. Michel Temer will fulfill the remainder of Rousseff’s term and the end of the impeachment trial should allow the government to turn its full attention to badly-needed economic reforms.
Brazil Economy Data
5 years of Brazil economic forecasts for more than 30 economic indicators.
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|Bond Yield||11.87||-0.17 %||Sep 23|
|Exchange Rate||3.25||0.75 %||Sep 23|
|Stock Market||58,697||-0.50 %||Sep 23|
Brazil Economic Growth
September 13, 2016Greater political stability and an improvement in economic data is helping lift Brazil’s outlook. However, ongoing challenging political conditions, which could lead to slow reform implementation or watered down austerity measures, limit the country’s growth trajectory. FocusEconomics Consensus Forecast panelists expect that the economy will contract 3.2% this year, which is up 0.1 percentage points from last month's forecast. Next year, the panel expects GDP to rebound to a 1.0% expansion.
Brazil Economic News
September 13, 2016
Retail sales (excluding cars and construction) fell back to contraction in July, declining 0.3% over the previous month in seasonally-adjusted terms.
September 9, 2016
After an over-six-month saga, Dilma Rousseff was stripped of the presidency on 31 August for breaking fiscal laws, prolonging acting President Michel Temer’s mandate to 2018.
September 9, 2016
Consumer prices in August increased 0.44% over the previous month.
September 2, 2016
In July, industrial production increased a meagre 0.1% over the previous month in seasonally-adjusted terms, which marked a deterioration compared to the 1.3% expansion recorded in June and represented the lowest reading since February.
September 1, 2016
The Markit manufacturing Purchasing Managers’ Index (PMI) fell in August, decreasing from July’s 46.0 to 45.7.