Brazilian Economic Data Beats Expectations
It was a strong day of data from Brazil on Friday, as two key Brazilian economic data releases highlighted why the Brazilian economy is held in such high regard.
Brazilian Industrial Production
In a report issued by the InstitutoBrasiliero de Geografia e Estatistica, official data showed on Friday that Industrial production in Brazil increased more-than-expected last month. Brazilian Industrial Production increased to -9.8%, up from the -13.6% recorded in the month prior whose figure was revised up from -13.8%. This came after analysts had been expecting Brazilian Industrial Production to show an increase to -10.4% for last month.
Brazilian Trade Balance
In a separate report issued by the InstitutoBrasiliero de Geografia e Estatistica, official data showed on Friday that Brazil’s trade balance increased more-than-expected last week. Brazilian Trade Balance figures increased to 4.43B, up from the 3.04B recorded in the preceding week. The large jump in the Brazilian economic data surpassed market expectations. The figures pleased the markets after analysts had been expecting Brazilian Trade Balance to increase to 3.90B for last week.
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