GDP: + 8.0% in Q1, largely driven by consumer spending that grew 8.2% in Q1, up from 7.8% in Q4 2006
Consumer Prices: + 8.8% in May. The minister for the economy has conceded that inflation will stay high in 2007, likely coming in at a range of 9.5% to10.0% (compared to 9.8% last year)
Industrial Production: + 6.4% in May over last year
Unemployment: 9.7% in May
Trade Balance: + $11.4 bn for the latest twelve months to April
Currency: Peso 3.08 to US$1 as of June 20 (unchanged from last year)
Steel Production: 445,000 mt in May, a reduction of 9.6% compared to last year. For the first five months of the year, 2.145 million mt were produced, i.e. 8.1% less than last year.
General: with inflation solidly under control, the Central Bank yet again lowered the benchmark interest rate, to 12.0%. The latest cut on June 6 was 0.5% instead of the usual 0.25%. It is expected that interest rates will further decline, giving a boost to growth and lowering unemployment. The relentless appreciation of the currency is of real concern for Brazil's export competitiveness.
GDP: + 4.3% in Q1, down from 4.8% in Q4
Consumer Prices: + 3.2% in May
Industrial Production: + 6.0% in April
Unemployment: 10.1% in April
Trade Balance: + $47.6 billion for the latest 12 months up to May
Currency: Real 1.91 to US$1 as of June 20 (Real 2.24 to US$1 last year)
Steel Production: 2.9 million mt in May -- an increase of 16.2% from last year. For the first five months of 2007, 13.6 million mt were produced, i.e. 12.4% more than last year.
GDP: + 6.6% in the 12 months to April; + 5.8% for Q1
Consumer Prices: + 2.9% in May. With inflation in check, the Central Bank held the benchmark interest rate at 5.0% for the fifth consecutive month.
Industrial Production: + 5.2% in April
Unemployment: 6.8% in April
Trade Balance: + $25.5 billion for the latest 12 months up to May
Currency: Peso 524 to US$1 June 20 (Peso 546 to US$1 last year)
Copper Price: rose to US$7,519 per mt on the London Metal Exchange June 20. Since then, a strike threat at a major mine of Codelco, the world's largest copper producer, has been averted and the price might ease off a bit.
GDP: + 8.8% in Q1
Consumer Prices: +19.5% in May. Inflation, the bete noire of the continent, remains stubbornly out of control. Food prices in the past twelve months to May rose 30.2%.
Industrial Production: +6.7% in March
Unemployment: 10.3% in Q1
Trade Balance: + $28.2 billion in Q1
Currency: Bolivar 2,147 to US$1, the official rate as of June 20 (Bolivar 2,583 to US$1 last year)
Oil Production: Rose to an average of 2.39 million barrels a day in April, catching up and even slightly exceeding last year's rate of 2.38 million b/d. Petro Canada, one of the owners of the La Caiba oilfield, said it will likely not start development of this field soon in view of the recent "regulatory turmoil." President Chavez is seeking a larger stake for the country in oil projects operated by foreign companies.
Steel Production: 480,000 (e) mt in May 2007, an increase of 17.5% on last year. In the first five months of 2007, 2.3 million mt were produced, i.e. 8.4% more than last year.