Economic indicators reflect optimism and confidence in the economy

Economic indicators reflect optimism and confidence in the economy

Chamber Articles Category: Economic News Post Date: 09/13/17 Source: BrazilGovNews By: BrazilGovNews
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Reduced inflation and falling interest rates, growing industry output, positive job creation figures and a historically high yield for the year’s harvest, among other factors, have helped the São Paulo Stock Exchange reach its recent record-high trade volume. According to President Michel Temer, the fact that the Ibovespa index surpassed 74,000 points this Monday (11) indicates the "strength of the economy".

"And more than the strength of the economy, [it indicates] the optimism, confidence, security, and tranquillity to know that Brazil is growing," Temer said after a meeting with cabinet members and representatives from businesses and trade unions on Tuesday (12) to discuss measures that can help the country's economic recovery.

In comparison with last year, the country saw inflation fall from 9.28% to 2.46%. The Selic basic interest rate was at 14.25%; it is now at 8.25%. Industry output, especially for vehicles, has seen marked increases, as has the overall balance of trade, Brazilian exports and the agricultural harvest, which is expected to hit a new record.

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