Reported about 20 hours ago
Brazil's economy exceeded expectations again in the third quarter, growing by 0.9% due to strong consumer and government spending, sparking inflation concerns. Unemployment is at record lows and wages are rising, enhancing the growth narrative for President Luiz Inacio Lula da Silva. However, market reactions have been mixed, with investors reacting negatively to government spending cuts, leading to a decline in the stock market and the currency hitting new lows against the dollar, as the central bank raises interest rates to combat inflation.
Source: YAHOO