Brazil’s economy was likely to have contracted in April compared with a year earlier – the first such decline since September 2009, according to a central bank leading indicator.
The Banco Central do Brasil’s IBC-Br economic activity index for April contracted 0.02 per cent, indicating that the global slowdown, which has undermined demand for Brazilian exports and investment, is beginning to weigh on the country as much as during the 2008 financial crisis.
Brazil’s growth has become the slowest of the so-called Brics club of large emerging economies that also includes Russia, India and China.
Monday, June 18, 2012
Brazil's Economy Turns Negative
From the FT: