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 5th, 2009 - one response
The Brazilian middle class keeps growing
Globo reports on the contuing strong growth of the Brazilian middle class.
In between 2006 and 2007, the Class C population grew very strong (10% growth). In 2008 it remained more or less stable on 45% of the population.
Today the absolute numbers are:
> The richest classes A and B grew from 28,08 million to 29,4 million people in 2008.
> Class C now has 84,6 million people
> The poorest classes D and E went slightly up from 72,9 to 75,8 million people
In 2008, the family income of all Brazilian people went up 11%.
> The people in the richest class A and B saw there income go up with 16,5%; the average income per person of the two classes went up from R$ 2.217 to R$ 2.588.
> The income of the people of class C went up 13%, the average grew from R$ 1.062 to R$ 1.201
> The income of the people of class D and E grew the least (12%) and went up from R$ 580 to R$ 650.
The Economist is digging up again the concept of decoupling and calls it “decoupling 2.0″; read more here.
Tags: brazilian income, brazilian middle class, decoupling 2.0, middle class
July 4th, 2009 - one response
While car sales are in a slump worldwide, Brazians bought last June more cars than any previous month in history. 300.174 cars left the showroom last month. That is an increase of 21,5% compared to May 2009 and 17,2% higher than June 2008. Total car sales in the first half year totalled 1,45 million, that is 3% more than in the first half of 2008 and a new record (2008 was already a record year). Total car sales for 2009 will highly likeable exceed 3 million in Brazil this year.
Auto sales in the first half of the year totaled 1.45 million, up 3% from the year before and a record for the period.
Also General Motors broke a record in Brazil last month. The company sold a record 55.629 vehicles last month, it’s hightes figure in the company’s 84-year history in Brazil. GM in the United States is in bankrupcy proceedsings, but its Brazil subsidiary is doing better then ever.
Last February we wrote extensively on the extreme innovations happening at General Motors Brazil, one of, if not the most modern plant of General Motors in the world.
Tags: car sales, general motors, middle class
