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).
Author: Agência Brasil
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.
Forecast was made by financial institutions surveyed by the Central Bank and was the 17th consecutive result pointing to a worsening of the indicator. The forecast for inflation also went up.
A Brazilian Central Bank survey shows a 1.5% drop in North Brazil from June to August. The outlook is better in the Midwest and South as a result of exportation.
US dollar outflows from foreign exchange operations in Brazil exceeded inflows by USD 3.5 billion. Year-to-date, the result is positive by USD 7.665 billion.
Indicator went up 1.2% over August. It was the second straight month of increase. Over September of 2014, however, there was a decline of 8.4%.
Respondents in a poll believe the Brazilian economy should contract by 3.05% this year. As of last week, their contraction expectation was slightly milder at 3.02%.
Brazil’s National Supply Company will hold an auction on November 5th to trade raw rice in for the processed variety. The product will be shipped from Brazil to Palestine as a donation.
