Some interesting info about the current state of Brazil’s economy and industry for those of us sitting here waiting to see why might happen…
Slow profit growth is prompting Brazilian commodities companies to slash capital spending plans, making growth in Latin America’s largest economy even more dependent on consumer spending (Reuters).
Brazil’s currency fell for the first day in three after the central bank offered to sell reverse currency swaps to stem its rally (Reuters).
But later the real headed for a four- month high after a report that showed German business confidence climbed more than forecast spurred optimism about global growth and bolstered demand for higher-yielding assets (Bloomberg).
Brazil in January posted its biggest-ever monthly current account deficit as the country’s recovering economy stoked imports, while the more uncertain outlook abroad dented demand for its exports. The current account deficit widened to $7.086 billion last month, the central bank said. Analysts had expected a deficit of $6.95 billion, from $6.04 billion in December, according to the…
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