The sector slowed down in October from September in Brazil as per a survey by the Brazilian Institute of Geography and Statistics (IBGE). Activity also dropped year-to-date.
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Minister Henrique Meirelles announced a 1.1% growth prediction for Brazil this year, up from a prior 0.5% forecast. Expected 2018 performance moved up as well.
The National Congress approved next year’s budget on Wednesday evening. A special election campaigns fund will account for USD 513 million out of the total amount.
A survey by the National Confederation of Industry (CNI) shows that, in ten years, the percentage of Brazilian industries that will be 4.0 will go from the current 1.6% to 21.8%.
Financial market players see this year ending with a 2.88% rate, down from a prior 3.03% estimate. Expected economic growth edged up from 0.89% to 091%.
Brazil’s National Agency of Petroleum, Natural Gas and Biofuels has issued a pre-request for proposals and the draft contract for the tender of 70 exploration blocks.
Brazil exported USD 83.4 million worth of footwear, down 0.9% over the same month of last year. The UAE is one of the main markets.
Prices of internationally traded primary products increased in November over October. Year-over-year, prices have climbed 0.84%.
The organization welcomed clerics from the Arab community in São Paulo on Monday at an event to mark the end of the year.
Industrial production climbed year-on-year and hit its highest number since April 2013.
The financial market expects the economy to grow 0.89% this year, against last week’s forecast of 0.73%. Estimative for 2018 also improved.
The second issue of Projeto Walk features the results of a survey on consumption trends and brands in the Arab city. The project’s creator and researcher Marcos Hiller travelled to the emirate in 2016.
The trade surplus from January to October is the highest for the period and is the result of USD 200 billion in exports and USD 138 billion in imports.
Brazilian economy expanded from July to September over the three previous months, in the third consecutive increase. Over the same period of last year, the growth reached 1.4%.
