Brazil economic activity has first drop in March since December

Brazil Portal

Matthew Malinowski – Bloomberg,  5/16/2014

Brazil’s economic activity contracted in March for the first time this year as above target inflation curbs demand.

The seasonally-adjusted economic activity index, a proxy for gross domestic product, fell 0.11 percent from the prior month, after growing a revised 0.02 percent in February, the central bank said today in a report posted on its website. The median estimate of 27 economists surveyed by Bloomberg was for a 0.1 percent contraction.

President Dilma Rousseff’s administration has struggled to boost economic growth in the world’s second-largest emerging market. Quickening inflation has curbed purchasing power and prompted the central bank to lift the key rate in nine straight meetings.

Read more…

View original post

Advertisements

Thanks for commenting. Please follow my blog.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s