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Montevideo, June 23rd 2017 - 05:08 UTC

Tag: Brazil economy

  • Sunday, June 4th 2017 - 12:07 UTC

    Brazil record trade surplus and industrial production up 0.6% in April

     Exports boosted by a record soy crop and rising auto sales reached US$ 19.8bn and imports US$ 12.2bn

    Encouraging news for Brazil's economic recovery: industrial output increased in April for the first time since December and the trade surplus rose to a record US$ 7.661bn during May, according to government data. Exports boosted by a record soy crop and rising auto sales reached US$ 19.8bn and imports US$ 12.2bn

  • Sunday, May 14th 2017 - 08:53 UTC

    Brazil retail sales plunge in March; government insists economy will be positive in first quarter

    The government continued to see the economy resuming growth in the first quarter despite the weak retail performance in March, insisted Minister Henrique Meirelles

    Retail sales in Brazil unexpectedly fell in March at the steepest monthly rate in 14 years, strengthening bets on a bolder interest rate cut at the end of this month. Sales volumes excluding cars and building materials fell 1.9% in March from February, government statistics agency IBGE said. Sales fell 4.0% from the year-earlier period.

  • Monday, May 8th 2017 - 21:57 UTC

    Brazilian economy expected to begin takeoff in the first quarter

    Meirelles said the reform of Brazil's costly social security system, the main cause of a gaping budget deficit, is crucial to restore growth and create jobs

    Brazil's economy will post growth of between 0.7% and 0.8% in the first quarter, turning the corner on a two-year recession, Finance Minister Henrique Meirelles said this week. In an interview with GloboNews cable channel, Meirelles said Brazilian companies will have to start to restock inventories and draw up investment plans.

  • Friday, April 28th 2017 - 17:23 UTC

    Brazil hit by record 13.7% unemployment in March, 14 million out of a job

    As the economy tumbled, Brazil's jobless rate has more than doubled since hitting a record low of 6.2% in 2013.

    Brazil's jobless rate rose to a record for the fifth straight month in March with more than 14 million workers unemployed, government data showed on Friday, illustrating the hardships caused by the country's deepest recession ever.

  • Wednesday, April 19th 2017 - 14:38 UTC

    Brazilian economy gives signs of recovery, but many challenges remain

    “The economy will likely get to the end of this year with a meaningful growth rate,” Finance Minister Henrique Meirelles said in a speech during an event in Brasilia

    Economic activity in Brazil grew in February at the fastest pace since January 2010, a central bank indicator showed this week, in the strongest sign yet that Latin America's largest economy is emerging from a two-year recession. Bumper harvests are expected to have lifted agricultural production in the first quarter of the year, while industrial output improved on a pickup in car exports.

  • Thursday, March 9th 2017 - 11:28 UTC

    Brazilian economy two-year contraction is slowing

    The Purchasing Managers Index (PMI) for Brazilian services, compiled by Markit, rose to 46.4 in February from 45.1 in January, its highest mark since March 2015.

    Brazilian services activity contracted at the slowest pace in two years in February, contributing to signs that Latin America's economy may soon turn the corner on a deep recession. The Purchasing Managers Index (PMI) for Brazilian services, compiled by research firm Markit, rose to 46.4 in February from 45.1 in January, hitting its highest mark since March 2015.

  • Wednesday, March 8th 2017 - 10:12 UTC

    Brazil's worst-ever recession continued during 2016, GDP drops 3.6%

    Investment fell 10.2% and consumption was down by 4.2% as joblessness hit a record high with 13 million people unemployed – 12.6% of the formal workforce.

    Brazil’s economic woes continue as the country’s worst-ever recession unexpectedly deepened at the end of last year. Gross domestic product contracted by 0.9% between October and December. For all of 2016 it dropped by 3.6%; almost as bad as in 2015 with a 3.8% slump. It was the eighth straight quarter of contraction.

  • Tuesday, January 31st 2017 - 21:03 UTC

    Brazilian government is “meeting its budget deficit”, says minister Meirelles

    Finance Minister Henrique Meirelles said that 2016 result was better than expected and that Brazil should resume generating budget surpluses again

    Brazil's central government registered a primary budget deficit of 154.255 billion reais (US$49.40 billion) in 2016, meeting its target but recording a third consecutive annual deficit that reflects the dire state of the country's finances. In December, the country posted a primary deficit of 60.124 billion reais (US$19.25 billion).

  • Tuesday, January 17th 2017 - 10:06 UTC

    IMF downgrades Latin America prospects because of lesser growth in Brazil and Mexico

    Growth downgrade reflects muted expectations of short-term recovery in Brazil  and Argentina following weaker-than-expected growth in the second half of 2016

    The International Monetary Fund has become more pessimistic about Latin America in the January economic outlook update. IMF is now forecasting regional GDP growth of just 1.2% in 2017, down from the 1.6% projection it made in October. It also lowered its 2018 estimate for Latin America by 0.1% to a revised projection of 2.1% expansion.

  • Wednesday, November 30th 2016 - 10:14 UTC

    Brazil economic outlook lowered according to Central bank survey

     According to the central-bank survey, economists maintained their outlook for the year-end Selic rate at 13.75% for 2016 and at 10.75% for 2017.

    Economists again lowered their outlook for Brazil's economic performance in 2016 and 2017, as the effects of a deep recession persist in Latin America's largest economy.