Reported about 1 month ago
Brazil's economy grew significantly in the second quarter, driven by increased consumer spending and government transfers, surpassing forecasts with a 1.4% growth from the previous quarter and 3.3% year-over-year. This robust growth raises concerns about inflation, prompting speculation that the central bank may hike interest rates to curb price pressures. Family consumption and industrial output showed considerable gains, although the agricultural sector faced declines due to recent floods. The rising budget deficit and market anxiety over fiscal discipline add to the economic outlook challenges.
Source: YAHOO