Official data released on Thursday showed gross domestic product expanded 1% in the January-March period from the previous quarter. The result fell short of the 1.2% median forecast in a Bloomberg survey. From a year prior, the economy gained 1.7%.
“Brazil is one of the only cases where growth forecasts increased for 2022,” central bank President Roberto Campos Neto told lawmakers earlier this week. Thursday’s print is “not representative of the underlying strength of the economy moving forward,” he said.. The central bank is extending a tightening cycle that has already raised the benchmark Selic 10.75 percentage points, hikes that are expected to bite hard on the economy later this year.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Global stocks slip amid worry about soaring inflationInvestors are concerned about looming interest rate rises will affect global growth
Source: BDliveSA - 🏆 12. / 63 Read more »
Business Maverick: Microsoft Falls After Paring Forecast on Currency DragMicrosoft Corp. pared its outlook for fiscal fourth-quarter earnings and revenue, citing the impact from a surging dollar, sending the shares tumbling.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: US Manufacturing Growth Unexpectedly Firms on Stronger OrdersUS manufacturing activity unexpectedly advanced in May as new orders and output growth quickened, suggesting underlying demand remains solid. Where is the Daily Maverick now with regards to Glencore. Clearly they only report selectively. FOUND GUILTY OF STATE CAPTURE throughout the world but in South Africa they innocent. I wonder why It's GLENCORE's cheap coal that has caused all our power plants to break, when is THE DAILY MAVERICK going to investigate the true state captures Glencore who thought the Guptas to steal
Source: dailymaverick - 🏆 3. / 84 Read more »
How much an MBA costs at South Africa’s top business schools right nowDespite a global pandemic and economic and political uncertainty, the demand for a Master of Business Administration (MBA) among business professionals continues to rise. So not true on figures please double check
Source: BusinessTechSA - 🏆 24. / 61 Read more »