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Brazil economy

Surprise Brazil industrial output fall in Feb highlights deeper GDP funk

Surprise Brazil industrial output fall in Feb highlights deeper GDP funk

Published 01 Apr, 2021 08:09pm
  • February's 0.7% fall in industrial output was significantly weaker than the median estimate in a Reuters poll of economists for a 0.4% rise. The following chart shows that several months of slowing growth have finally turned into outright decline.
  • Statistics agency IBGE said the year-on-year rise was 0.4%, also well below the Reuters poll forecast of 1.5% growth.
Brazil GDP down 4.1pc in 2020, less than forecast

Brazil GDP down 4.1pc in 2020, less than forecast

Published 03 Mar, 2021 06:04pm
  • Latin America's largest economy grew by 3.2% in the fourth quarter, according to official statistics agency IBGE, more than the 2.8% median estimate in a Reuters poll of economists.
  • The 3.2% expansion in the fourth quarter was led by 2.7% growth in services, 3.4% expansion in household consumption, and a 20% surge in fixed business investment, IBGE said.
Brazil unemployment rate falls to 13.9pc in quarter through December

Brazil unemployment rate falls to 13.9pc in quarter through December

Published 26 Feb, 2021 06:05pm
  • The average unemployment rate last year was 13.5%, IBGE said, up from 11.9% the year before and the highest since the series began eight years ago.
  • The IBGE figures showed 86.2 million Brazilians had work, up 4.5%, or 3.7 million people, from the July-September period, although still down 8.9%, or 8.4 million people, from the same period a year earlier.
Brazil public sector debt rises to record 89.7pc of GDP in January

Brazil public sector debt rises to record 89.7pc of GDP in January

Published 26 Feb, 2021 05:58pm
  • The public sector surplus excluding interest payments of 58.4 billion reais was more than the 50 billion reais surplus forecast in a Reuters poll of economists, and the overall deficit in the 12 months through January was worth 9.4% of gross domestic product.
Brazil current account deficit 0.65pc of GDP, smallest in 13 years

Brazil current account deficit 0.65pc of GDP, smallest in 13 years

Published 24 Feb, 2021 08:02pm
  • The current account deficit of 0.65% of gross domestic product in the 12 months to January was down from 0.87% the previous month and the smallest since February, 2008, central bank figures showed.
  • Brazil's current account deficit in the month of January was $7.25 billion, the second deficit in a row and slightly less than the $7.75 billion shortfall forecast in a Reuters poll of economists.
Brazil mid-February inflation highest in four years

Brazil mid-February inflation highest in four years

Published 24 Feb, 2021 06:27pm
  • That was down from the 0.78% rate of monthly inflation in January, but higher than the median forecast in a Reuters poll of 0.46% and enough to push the annual rate of inflation up to 4.57%.
  • Prices rose in six of the nine groups of goods and services covered by IBGE. Transport costs rose 1.1% in the month, accounting for almost half of the overall monthly increase.
Brazil 2021 inflation forecasts revised up, central bank target in spotlight

Brazil 2021 inflation forecasts revised up, central bank target in spotlight

Published 19 Feb, 2021 08:49pm
  • Banco Itau's economics team, led by chief economist Mario Mesquita, on Friday raised its 2021 inflation forecast to 3.8% from 3.6%, citing strong industrial price pressures.
  • We emphasize that the (upward) pressure of industrial costs is also being seen in other economies, given the robust demand recovery after coronavirus shock and surging commodity prices.
Brazil's 2021 interest rate outlook rises to 3.75pc, survey shows

Brazil's 2021 interest rate outlook rises to 3.75pc, survey shows

Published 17 Feb, 2021 09:04pm
  • The average forecast of the benchmark Selic rate at the end of this year rose to 3.75% from 3.50%, while the end-2022 forecast remained steady at 5.00%.
  • Economists at Barclays reckon the central bank will raise rates at its next policy meeting in March.
Brazil govt debt ends 2020 at record high 89.3pc of GDP

Brazil govt debt ends 2020 at record high 89.3pc of GDP

Published 29 Jan, 2021 07:43pm
  • The public sector deficit in December excluding interest payments was 51.8 billion reais ($9.5 billion), the central bank said, close to the 51.5 billion reais median estimate in a Reuters poll of economists.
  • The nominal deficit in December including interest payments widened to 75.8 billion reais, the central bank said, resulting in an annual deficit of 1.02 trillion reais, or 13.7% of GDP.
Brazil economy activity up in Nov, but slowest rise in 7 months

Brazil economy activity up in Nov, but slowest rise in 7 months

Published 18 Jan, 2021 07:01pm
  • This suggests the solid recovery from the worst of the COVID-19 shock earlier last year continued to slow going into the fourth quarter.
  • Compared with November 2019, activity was down 0.83%, and on an accumulated 12-month basis down 4.15%.
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