Brazilian Industrial Output Slows
Jul 1st, 2008 | By Mike Caggeso | Category: Featured, Financial NewsEditor’s Note: Brazil’s blistering economic performance – 5.8% first quarter growth this year – has given a big boost to Banco Bradesco. The Bank has an annual profit growth of 30%, says Mike Caggeso. Right now, Brazil’s a safe investment because it has managed to ‘decouple’ from the faltering US economy and doesn’t have to rely on US imports for growth.
Skyrocketing oil prices are having a negative effect on Brazil though – stocks fell for the first time in three days today on fears that oil prices would cause inflation, stifling growth. Brazil’s industrial output also caused worries, rising by ‘only’ 2.4% in May, compared with 10% in April.