Brazil economic news 8216 good for the government 8217
Brazil’s economy is growing faster than expected.
The growth of the Brazilian economy is progressing faster than expected and this is providing a boost to the country's government.
Brazil's GDP growth for the second quarter rose to 3.3 per cent year-on-year, it was pointed out by Craig Botham, emerging markets economist at Schroders, that this is against growth of 1.9 per cent year-on-year last quarter.
With analysts having expected growth for the second quarter to be around the 2.5 per cent mark, the economy in Brazil is performing well in excess of expectations in recent months.
"Manufacturing, construction, retail and transportation were all key drivers in the rise in activity," said Mr Botham, who noted the services sector is another to have growth in Brazil during the second quarter of the year.
However, he also noted that data for the Indian economy has been worse than expected, indicating the issues facing the Asian nation's government at the present time.
Recent weeks have seen the Indian rupee slip to a new record low against the US dollar on a number of occasions.
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