Brazil Economic Outlook
July 11, 2017The political scene has gone from bad to worse in recent weeks, jeopardizing the economy’s recovery. The attorney general charged President Michel Temer with accepting millions of dollars in bribes on 26 June, making him the first sitting leader in Brazil’s history to face criminal charges. The move was the latest in a lengthy inquiry that has seen dozen of politicians, including cabinet members, placed under investigation or charged for corruption. While at this point, it seems unlikely that Temer will be found guilty—two-thirds of the Lower House of Congress must vote in favor of a trial for the case to move to the supreme court—the accusations have further dented Temer’s already abysmal popularity and are threatening his economic reforms. On 30 June, a nationwide protest was held against labor and pension reforms. The political unrest dampened both consumer and business confidence in June, although less-recent hard data suggests that a moderate recovery is underway. Industrial production expanded for a second consecutive month and the unemployment rate fell in May
Brazil Economy Data
5 years of Brazil economic forecasts for more than 30 economic indicators.
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|Bond Yield||10.15||-0.69 %||Jul 18|
|Exchange Rate||3.15||-0.90 %||Jul 18|
|Stock Market||65,338||0.19 %||Jul 18|
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Brazil Economic Growth
July 11, 2017The political turbulence caused a second consecutive downgrade to Brazil’s outlook this month. The FocusEconomics panel sees GDP expanding a meagre 0.4% in 2017, which is down 0.1 percentage points from last month’s forecast. The recovery is seen gaining speed in 2018 and GDP should increase 2.0%.
Brazil Economic News
July 4, 2017
In May, industrial production rose 0.8% from the previous month in seasonally-adjusted terms, which was below April’s revised 1.1% increase (previously reported: +0.6% month-on-month).
July 3, 2017
Conditions in Brazil’s manufacturing sector eased slightly in June, after a strong May.
June 29, 2017
Business sentiment dropped in June from May’s three-year high.
June 28, 2017
Brazil’s current account balance recorded a third consecutive surplus in May, climbing to a near decade-high of USD 2.9 billion.
June 16, 2017
In April, economic activity rose 0.3% from 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).