Brazil Economic Outlook
June 14, 2016Brazil’s economy remained mired in the deepest recession in recent history in the first quarter of the year, although the pace of contraction did improve slightly. Exports, which have been a bright spot in recent data, hit an over-four-year high in Q1 thanks to a weaker real, while data from the domestic economy remained abysmal. In the political arena, all eyes are on new interim President Michel Temer to see if he can right the sinking economy and avoid the setbacks the Rousseff administration had faced. While early signs suggested that Temer’s government had started on the right foot—Congress approved his target of a budget deficit in May—recent developments are less encouraging. Two government ministers have resigned, and in June, the prosecutor general requested that four prominent members of Temer’s party be arrested in connection with the Petrobras scandal.
Brazil Economy Data
5 years of Brazil economic forecasts for more than 30 economic indicators.
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|Bond Yield||12.65||-0.71 %||Jun 21|
|Exchange Rate||3.42||0.63 %||Jun 21|
|Stock Market||50,838||1.01 %||Jun 21|
Brazil Economic Growth
June 14, 2016The slight improvement in GDP data for Q1 is supporting an upward revision to the forecast. However, despite the change in leadership, Brazil’s economy is expected to remain in a profound recession this year. FocusEconomics panelists see the economy contracting 3.4% in 2016, which is up 0.3 percentage points from last month’s forecast. For 2017, the panel sees the economy recovering slightly and growing 0.8%.
Brazil Economic News
June 10, 2016
The Brazilian real (BRL) rallied to the strongest value seen since July 2015 in June as better economic data and a new Central Bank government supported sentiment.
June 8, 2016
Consumer prices in May increased 0.78% over the previous month.
June 8, 2016
At its 8 June meeting, the Central Bank’s Monetary Policy Committee (COPOM, Comite de Politica Monetaria) decided to leave the benchmark SELIC interest rate unchanged at 14.25%.
June 6, 2016
The deep recession plaguing Latin America’s largest economy continued in the first quarter of the year although the economy did improve compared to the previous period.
June 2, 2016
In April, industrial production grew 0.1% over the previous month in seasonally-adjusted terms, which marked a slow-down from the 1.4% increase recorded in March.