Such was the contraction of Brazil’s Gross Domestic Product (GDP) compared with quarter one. As against Q2 2015, GDP shrank 3.8%. Year-to-date through June, it was down 4.6%, the national Statistics Institute said.
Author: Agência Brasil
Real revenues were up 0.66% from January through July, and 4.2% year-on-year in July, the industry association said.
The Brazilian oil company and its Norwegian counterpart entered into a deal to expand a partnership for bidding in tenders for oil and gas exploration blocks, and technological development.
Financial institutions in Brazil are expecting the Central Bank to keep the per-annum rate at 14.25% at a meeting due this week.
The target number was included in an action plan that will be discussed by the leaders of the bloc in the September 4 and 5 China summit.
Estimate by financial institutions for the economy’s growth next year went from 1.1% to 1.2%, according to survey done by the Brazilian Central Bank. For this year, forecast of 3.2% decline remains.
The index released by the industry federation stood at 46.6 points last month. The number of jobs in the sector also decreased.
The Brazilian Ministry of Finance released its revised GDP estimate for 2017 this Wednesday (17), from 1.2% to 1.6%. The country is seen resuming growth in the final quarter of this year.
Industrialists gained confidence from July to August in Brazil, according to research by the National Federation of Industry (CNI). Index hadn’t surpassed 50 points since March 2014.
Financial institutions increased from 7.2% to 7.31% their estimate for inflation in Brazil and from 13.5% to 13.75% their forecast for the benchmark interest rate.
A Brazilian Central Bank index shows contraction of GDP in Q2 from Q1 2016. Year-on-year in Q2 saw a much wider drop at 4.37%.
The Brazilian National Development Bank incurred a net loss in the first half of this year. In the comparable period of 2015, it registered BRL 3.5 billion in profit.
Financial institutions polled by the Brazilian Ministry of Finance are expecting the National Treasury, Social Security and Central Bank to run a USD 50.5 billion deficit, up from USD 49.4 billion in the prior forecast.
Retail sales volume went up 0.1% from May to June, according to the Brazilian Institute of Statistics.
