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Brazil economy

Brazil GDP down 4.1pc in 2020, less than forecast
World

Brazil GDP down 4.1pc in 2020, less than forecast

  • 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.
Published 03 Mar, 2021 06:04pm
Brazil unemployment rate falls to 13.9pc in quarter through December
World

Brazil unemployment rate falls to 13.9pc in quarter through December

  • 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.
Published 26 Feb, 2021 06:05pm
Brazil public sector debt rises to record 89.7pc of GDP in January
World

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

  • 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.
Published 26 Feb, 2021 05:58pm
Brazil current account deficit 0.65pc of GDP, smallest in 13 years
World

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

  • 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.
Published 24 Feb, 2021 08:02pm
Brazil mid-February inflation highest in four years
World

Brazil mid-February inflation highest in four years

  • 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.
Published 24 Feb, 2021 06:27pm
Brazil 2021 inflation forecasts revised up, central bank target in spotlight
World

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

  • 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.
Published 19 Feb, 2021 08:49pm
Brazil's 2021 interest rate outlook rises to 3.75pc, survey shows
World

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

  • 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.
Published 17 Feb, 2021 09:04pm
Brazil govt debt ends 2020 at record high 89.3pc of GDP
World

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

  • 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.
Published 29 Jan, 2021 07:43pm
Brazil to start COVID-19 vaccinations on Jan. 21, says senator
World

Brazil to start COVID-19 vaccinations on Jan. 21, says senator

  • President Jair Bolsonaro, who has been lambasted for overseeing the world's second deadliest coronavirus outbreak after the United States.
  • Two vaccines - one made by AstraZeneca and another developed by China's Sinovac Biotech - will form the bedrock of the government's vaccination plan.
Published 14 Jan, 2021 06:53pm