06 December 2011

BRASIL: Less Than Zero Growth In Q3...From Q2; Economy Struggles Along At 2.1%.


      Brasil...the 'B' of the much vaulted BRIC emerging growth economies...showed less than ZERO growth in Q3 from Q2...actually shrinking by 0.04.
      Y/y...Brasilia's economy grew only 2.1%.
     In 2010..it posted an impressive 7.5% GDP increase.
     In short...its economy is 'morto na água'/dead in the water.
      Some economists are blaming...the eurozone...and a slowdown in China.
     "The reversal ... is very worrisome, and the worst is that there's not much that can be done about it -- we depend on a solution to the problems in Europe," said an economist.
      Others blame monetary and credit tightening...with 5 benchmark interest rate hikes.