Brazil Economic Outlook
June 13, 2017Testimony from a corruption scandal implicated President Michel Temer directly in May, unleashing a political bombshell in Brazil and casting doubt on whether Temer will fulfill his term. Although Temer has held onto power so far and was cleared by the top court of accusations that he violated campaign finance laws on 9 June, he is deeply unpopular and the government’s implication in a corruption scandal is threatening its stability and effectiveness. The political chaos bodes poorly for the economy’s battered recovery as reform momentum will likely slow as politics takes center stage. Although GDP improved notably in Q1 thanks to a record harvest of soybeans and improved sentiment, overall conditions are still weak and incoming data is mixed. Industrial production improved in April but growth remained weak, however, the current account recorded a solid surplus while the manufacturing PMI rose in May.
Brazil Economy Data
5 years of Brazil economic forecasts for more than 30 economic indicators.
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|Bond Yield||10.51||-1.27 %||Jun 16|
|Exchange Rate||3.29||0.56 %||Jun 16|
|Stock Market||61,626||-0.48 %||Jun 16|
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Brazil Economic Growth
June 13, 2017The sharp increase in political uncertainty led our analysts to downgrade Brazil’s outlook this month. The FocusEconomics panel sees GDP expanding a meagre 0.5% 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 2.2%.
Brazil Economic News
June 13, 2017
Retail sales (excluding cars and construction) rebounded in April after falling in March.
June 9, 2017
Brazilian consumer prices in May increased 0.31% over the previous month, which was above April’s 0.14% rise.
June 6, 2017
In April, industrial production rose 0.6% from the previous month in seasonally-adjusted terms, which contrasted March’s revised 1.3% fall (previously reported: -1.8% month-on-month).
June 2, 2017
In March, economic activity shrank 0.4% 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).
June 1, 2017
Business sentiment rose in May, climbing to its highest level in three years.