Brazil's GDP expanded 2,7% during the first quarter of 2004 compared to the first quarter of 2003 confirming the economic recovery tendency of the country's economy reports the Brazilian Geography and Statistics Institute, IBGE. According to IBGE, Brazil's GDP in the first quarter of 2004 reached 124,3 billion US dollars, that is 1,6% expansion over the last quarter of 2003.
Brazilian president Luiz Inacio Lula da Silva and his administration continue to loose ground in the latest public opinion polls released this week in Brazil.
China has launched a massive national campaign to save electricity and avoid waste which includes raising air conditioners temperature and warnings of supply cuts to hotels that do not comply.
An unexpected raise in the national unemployment rate reaching 9,4% in the March-May quarter surprised Chilean authorities and market analysts who were expecting a slight decline closer to 8,8%. The 9,4% index represents a 0,7% increase over the previous quarter and 0,6% over the same period in 2003.