start here

start here

The Daily IKN email digest, get all daily posts sent to you next day (& no ads)

I say things on Twitter

3/10/09

Brazil: No doubt about today's top regional biz story


Reuters: Brazil economy contracts 3.6% in fourth quarter

Bloomberg: Brazil Fourth-Quarter GDP Shrank 3.6%, Most on Record

AP: Brazil Growth Slows Sharply in Q4 Amid Meltdown

Plenty of other versions to choose from. Beyond the headline number that "beat" (if that's really the operative word) expectations of a -2.3% drop in the quarter (it even beat the worst estimate from the 17 economists* polled), your future-looking Otto particularly notes capex spending down 9.8%, which doesn't bode well for the next few quarters. Other notables compares to 3q08 are:
  • Industrial output down 7.4%
  • Agro output down 0.5%
  • Consumer spending down 2%
  • Service sector down 0.4%
By the way, get your information raw and not via the mediafilter by going to the relevant Brazilian gov't webpage right here. If you do you get useful charts like this one:


*aka dumbasses in suits. I think that's getting beyond question now