The Brazilian minister of Finance, Joaquim Levy, said that the government is moving in the right direction and that the country has the ability to recover fast and deal with political and structural issues.
Author: Agência Brasil
Withdrawals overcame deposits in BRL 1.3 billion (USD 347 million) in November, the 11th consecutive month with withdrawals on top. It was the worst result for the month in the Brazilian Central Bank’s survey.
An indicator from Brazil’s National Federation of Industry edged up 0.6 percentage point to 19.8% in quarter three.
Industrial output in Brazil dropped 2.7% in October from September, driven by a slowdown in oil products and biofuels production.
A Brazilian Central Bank index that tracks the prices of internationally traded primary products declined in November. In the 12 months leading up to November, the index is up 18.4%.
Numbers from Brazil’s National Confederation of Industry show that real revenues dropped 4% in October from September. Employment and hours worked also declined.
The Brazilian economy contracted from July to September of this year from the preceding three-month period, according to numbers released by the Brazilian Institute of Geography and Statistics (IBGE).
It was the worst-ever result for the month, the Central Bank reported. The federal government announced a BRL 11.2 billion (USD 2.9 billion) budget cut this Monday (30th).
The Brazilian industry is expecting to process 33.2 million tons this year, down from 33.8 million tons in 2014, the organization Instituto Aço Brasil said.
The buoyant dollar led expenditure by Brazilian citizens abroad to drop year-on-year in October, to USD 1 billion. Year-to-date spending also declined.
Brazil’s current account deficit declined to USD 4.1 billion in October, from USD 9.3 billion in October 2014, the Central Bank reported.
Brazilian National Treasury numbers show the debt declined from BRL 2.73 billion in September to BRL 2.64 billion last month. It was the first month-on-month reduction so far this year.
A survey by Fundação Getulio Vargas shows that the sector’s confidence went down in November over October, from 76.2 points to 74.3 points.
According to the Brazilian Institute of Geography and Statistics, the Brazilian economy grew more than original calculations had accounted for. The numbers changed due to a new methodology.
