Brazil's economy contracted nearly one percent in the second quarter due to a truckers' strike, the country's Central Bank said on Wednesday. The nine-day strike that ended in late May caused fuel shortages, cut into food deliveries and backed up exports.Add your comment!
Latin American currencies fell against the dollar across the board on Wednesday as traders continued to focus on recent statements by key U.S. monetary policy makers.
Brazilians' disapproval of Michel Temer's administration has risen from 72% to 79% in the second quarter of 2018, according to a survey conducted by the National Industry Confederation (CNI) and Ibope.
Brazil’s central bank on Thursday slashed its growth forecast for 2018 gross domestic product after a nationwide truckers strike paralyzed key sectors of Latin America’s largest economy. The bank sees GDP growth of 1.6% this year, according to its quarterly inflation report, compared to 2.6% previously.
A Datafolha survey shows that the all-time high unpopularity of Brazilian President Michel Temer (MDB) is due essentially to dissatisfaction with the overall performance of his administration, particularly regarding the economy. It also shows that the president's personal image and the loss of status caused by corruption scandals that involve him are secondary issues.
Brazil's 12-month inflation accelerated in May from April amid strong fuel prices. Consumer prices rose 0.40% in the month, compared with an increase of 0.22% in April, statistics agency IBGE said on Friday. The consumer price index advanced 2.86% in May from a year earlier, up from April's 2.76% pace.
Brazil's inflation rate unexpectedly slowed in April and kept far below the official target, suggesting a recent period of currency weakness is unlikely to keep the central bank from cutting interest rates next week.
Industrial output in Brazil contracted unexpectedly in March, the latest in a string of weak data suggesting a recovery in Latin America's largest economy hit a bump in the first quarter. Production fell 0.1% from February, government statistics agency IBGE announced.
Credit rating agency Moody's this week raised the outlook of Brazil's sovereign rating from negative to stable.
Brazilian President Michel Temer has officially nominated eleven new ministers, the government's official bulletin said, giving continuity to the government's reform program ahead of the general elections in October.