Brazil Economy in December 2014

Source: OPEC 12/24/2014, Location: South America

Brazil avoided a long recession after its GDP posted growth of 0.1% q-o-q saar in the 3Q14, following two quarters of negative quarterly growth. Growth was basically supported by higher government consumption and gross fixed capital formation, with each rising 1.3% q-o-q.

Private consumption, on the other hand, contracted 0.3%. On a yearly comparison, GDP decelerated 0.2% in the 3Q, following a 0.9% contraction in the 2Q. Private consumption was nearly flat, growing just 0.1% y-o-y signalling the slowest pace of growth since the 4Q03, while growth of government consumption was at 1.9% compared to the previous year.

Exports from Brazil shrank in October 2014 nearly 20% y-o-y, from a 4.9% y-o-y increase in October 2013. As a result, the trade deficit increased to $1.2 billion in October from a $0.2 billion gap a year earlier, as lower prices for key exports kept dragging the value of exports down.

Consumer confidence slid further last month to 97.5, its lowest reading since February 2009. Concerns about high inflation, the job market and, more recently, interest rate increases have accelerated the trend of falling consumer confidence seen in the past 12 months. The central bank raised the benchmark interest rate 50 basis points to 11.75% in December 2014, compared to the previous month.

Inflation in October remained over 6%, though slightly lower than a month earlier. Inflation registered 6.3% in October, down from 6.6% in September. The unemployment rate followed the seasonal downwards pattern at year end. It fell to 4.7% in October from 4.9% a month earlier. The unemployment rate maintained its reading of no more than 5.0% since March of this year, highlighting the lowest average ever for the period of March-October.

The manufacturing sector continued its disappointing performance last month, with the corresponding PMI falling to 48.7, down from Octoberís 49.1. The latest reading was the lowest in 16 months. The survey showed faster contractions in output and employment as well as modest rates of decline in new business and foreign orders. Observing the negative yearly growth of GDP in the 3Q14 and the continued disappointing signals in the past two months, GDP growth is anticipated now at 0.4% in 2014, down from previously anticipated 0.6%. For 2015, the forecast remains intact at 1.2%.


Italy >>  5/19/2022 - Prospex Energy plc, the AIM quoted investment company, is pleased to announce its audited Final Results for the year ended 31 December 2021.

...

Tanzania >>  5/19/2022 - Orca Energy Group Inc. has filed its condensed consolidated interim financial statements and managementís discussion and analysis for the three month ...

United Kingdom >>  5/19/2022 - The Getech Group announces its Final Results for the 12 months ended 31 December 2021.

Highlights
A transformational year, investing ...

Singapore >>  5/18/2022 - ? Completion of multiple key projects with successful deliveries to customers
? Landmark win in renewable energy sector with newbuild contract f...


United States >>  5/18/2022 - Key Takeaways
- Operational capacity almost doubled, supporting substantial production and revenue increases.
- Fleet expanded by more tha...

India >>  5/17/2022 - IndianOil reported Revenue from Operations of ?7,28,460 crores for FY 2021-22 as compared to ?5,14,890 crores in previous financial year. The Net Prof...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.