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LATIN AMERICA: "Trucks: Choppy Demand Expected to Continue in Brazil (Oct. 2014 - download report)"

LATIN AMERICA: "Trucks: Choppy Demand Expected to Continue in Brazil (Oct. 2014 - download report)". 5-page report by BAIRD.

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back to index backLATINtalk March,  2005


Brazil's Economic Growth Is Highest in 10 Years

RIO DE JANEIRO -- Economic growth in Brazil slowed in the fourth quarter of 2004 from the third, but still rose enough to bring full-year growth to its highest level in 10 years, giving a boost to President Luiz Inácio Lula da Silva's government.

Brazil's gross domestic product rose a median 4.9% and an average 4.7% in the fourth quarter of 2004 from the year-earlier period, according to the forecast of seven economists polled by Dow Jones Newswires. In the third quarter, GDP had expanded at a rapid 6.1% pace.

The government's statistics institute IBGE will release the data tomorrow.

Much of the slowdown came as the upswing in South America's biggest economy is becoming more mature, as the basis of comparison in the fourth quarter was higher. Yet growth in the fourth quarter was high enough to push Brazil's GDP expansion in 2004 to a median of 5.2% and an average of 5.1%, according to estimates by 11 economists. That would be the fastest economic growth since 1994, when GDP surged 5.85%.

In 2003, GDP rose a mere 0.5%.

The government under the guidance of Finance Minister Antonio Palocci had kept tight fiscal and monetary policies to stabilize the economy and allow for long-term growth.

But critics of Mr. da Silva's increasingly centrist government were outraged by a primary surplus that surpassed a target of 4.5% in 2004, and a Central Bank base interest rate that is among the highest in the world amid persistent stubborn inflationary pressures.

Source: Wall Street Journal – Dow Jones Newswires - GAI


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