July 18th, 2009 - no responses
Bloomberg reports that Brazil’s retail sales rose more than expected in May. 2008 was a record year in Brazil, yet retail sales rose 4% compared to May 2008 and it rose 0,8% compared to the previous month April 2009 (the expectation was a 0,4% increase). The raising Brazilian middle class and Brazil’s huge internal market is fueling it’s resiliance in this crisis.
Economists are again revising Brazil’s GDP growth upwards. This news will probably have the central bank incline to a further decrease of the SELIC intrest rate. Estimates they will lower the rate from the current 9,25% to 8,75% on July 22.
Tags: middle class
July 18th, 2009 - no responses
Last week, the Brazilian central bank announced that the country’s foreign exchange resreves have reached a record high of 209,5 billion US$.
The target of the Brazilian central bank is to further expand their foreign reserves to 300 billion US$.
Tags: brazilian central bank, brazilian foreign reserves
July 7th, 2009 - no responses
Quote:
“Niall Ferguson on California: It is a Latin American economy that just happens to be in the U.S.”
Paul Kedrosky has a point, the situation in California is truly catastropic; try sorting the situation yourselve.
Wells Fargo is putting up deadlines, yet no solutions are at hand with the massive job-losses; the US has lost as many jobs now as all the jobs together that were created the last nine years.
Tags: Niall Ferguson
July 5th, 2009 - no responses
While in most countries the economy is collapsing at an unseen speed and the governments have no idea how to plug the massive holes in the budgets, the Brazilian government is studying a plan to lower the contribution of employer’s social contribution from 20 to 15%. Which will be surely an incentive to hire even more people.
That being said, the unemployment in Brazil isn’t increasing and amounts now 8,9%, as you can see here.
Read more on the plans of the government on Globo.
July 5th, 2009 - no responses
Nielsena dn IBGE just updated the number of Internet users throughout the world.
Brazil now has 62,3 million people on the Internet. That is more people using the Internet than in France or the UK.
And we have seen what happens when those 62,3 million Brazilians raise their voice on June 28th.
With 33% of the population online, Brazil still has plenty of growth potential ahead. I’ll give you a stock recommendation in this context next week, after I bought in some extra myself.
Tags: brazilian internet users
