Financial institutions polled by the Central Bank revised down Brazilian economy growth projection for the year, from 0.52% to 0.48%
Author: Agência Brasil
The official index was 6.51% in the twelve-month period ended August. Last month, the rate increased by 0.25%, as against 0.01% in July. Electricity tariffs and domestic workers’ wages drove the index up.
Savings deposits in the last month were the lowest figures for the month of August in the past eight years, according to the Brazilian Central Bank. Deposits surpassed withdrawals by nearly US$ 230.96 million.
In July from June, use of installed capacity went from 80.4% to 81%, as per a survey conducted by Brazil’s National Confederation of Industry.
Petrobras chairwoman Graça Foster has made an early announcement that the Brazilian state-owned oil company’s output is expected to have broken a new record in August, at roughly 2.1 million bpd.
Hike was 0.7% from June to July, after a five-consecutive-month decline. Durable consumer goods drove the increase.
Industry weighed down on the country’s economy in quarter two with a 3.4% decline. In the twelve-month period leading up to June, GDP was up 1.4%.
The projection is part of Brazil’s Budget Bill for next year. The minimum wage will be raised by 8.8% to US$ 348.18.
For the 13th consecutive week, financial institutions have revised down their estimate for Brazilian economic growth in 2014. The expected rate is currently 0.70%.
Brazil’s US$ 1.574 billion trade surplus in July has helped offset the US$ 6 billion negative result in transactions with foreign countries. Overseas spending by Brazilians, however, was a record.
Preliminary monthly results show a decline in the index measured by the Getúlio Vargas Foundation, in comparison with late July figures.
United States dollar inflows have exceeded outflows by US$ 500 million in the first fortnight of August. The result was a consequence of financial operations.
According to the United Nations, the amount of people in the world requiring humanitarian aid has never been so high.
The financial market has lowered its growth forecast for Brazil’s economy for the 12th straight week. The prior estimate was 0.91% for this year.
