The BRICS nations of leading emerging economies warned on Thursday that trade tensions and policy uncertainty are undermining confidence in international commerce, investment and economic growth. At an annual summit, China, Russia, India, Brazil and South Africa urged the world to keep markets open with fair and non-discriminatory trade rules in the face of rising protectionism.
Economic activity in Brazil rose for a second consecutive month in September, and closed the third quarter at its highest level in a year, data showed on Thursday, offering hope that the country's long-struggling economy may be turning a corner.
Economic activity in Brazil accelerated in September, closing the third quarter on the upswing and offering hope that the country's long-struggling economy may be turning the corner. The central bank's IBC-Br economic activity index, a leading indicator of gross domestic product, rose 0.44% in September from August, well above 0.07% growth the month before.
Brazilian retail sales volumes excluding cars and building materials rose 0.7% in September from August, government statistics agency IBGE said on Wednesday, in line with the economists' expectations. Sales rose 2.1% from the same month last year, a tad lower than the 2.35% median forecast in the Reuters poll.
Brazil's government may be able to clear budget freezes it had in place for this year thanks to income from last week's Transfer of Rights oil auction, special secretary to the economy ministry Waldery Rodrigues said on Tuesday. Rodrigues said the freeze in place, currently around 14 billion reais, could be reversed entirely.
Chile's peso plunged to a record low on
Tuesday as massive anti-government protests showed little signs
of abating, while Latin American stocks tumbled, led by losses
in Brazil as some corporate ...
Brazil's private sector is replacing government spending as the engine of growth in Latin America's largest economy, an accelerating trend championed by the government and central bank, but one that will take time to boost jobs and income, economists said.
Chile's peso sank 4% to a record low on
Tuesday as massive anti-government street protests showed signs
of intensifying further, while currencies in Brazil and Mexico
dropped as the dollar ...
Brazil's services sector activity jumped in September, official figures on Tuesday showed, rising at the fastest pace in over a year and suggesting Latin America's largest economy ended the third quarter on a strong footing.
The recent release from prison of former Brazilian President Luiz Inacio Lula da Silva and upsurge in political instability across Latin America will not hinder Brazil's economic reform process, a senior Economy Ministry official said on Monday. "I think, in fact, eventually you'll have more debate about reform, which is good," Treasury Secretary Mansueto Almeida told Reuters in Brasilia.
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