Brazil's ETF and Economy Are Just Getting Started
Nov 18, 2009 - 3:58 PM EST
Tom Lydon (ETF Trends) submits: Brazil’s domestic industries are showing a quick rebound. The economy, along with related ETFs, may be only just beginning to reflect a recovery in the emerging market.
- With a surge in domestic consumption bolstered by optimistic Brazilians, low unemployment and increased wages, Brazil’s economy is projected to grow 9% for the fourth quarter, comments Martin Denholm for Investment U.
- For the full year, Brazil’s GDP is projected to fall between 1% and 1.5% after a major blow to its export market, but the market has shown signs of revival.
- Deputy Trade Minister Welbar Barral expects foreign direct investment to grow 33% in 2010. Moody’s already brought Brazil’s credit rating to investment grade back in September.
- Labor Minister Carlos Lupi stated that Brazil’s economy added 230,956 payroll jobs in October, bringing the number of jobs added to more than 1 million this year, reports Isabel Versiani for Reuters. He also expects the number of new jobs will rise to 2 million in 2010.
- Lupi projects the economy will grow 2% in 2009 and 7% to 8% in 2010 while analysts estimate growth of 0.2% in 2009 and 5% in 2010.
- iShares MSCI Brazil Index (NYSEArca: EWZ): up 121% year-to-date
Complete Story »
Source: Seeking Alpha (Nov 18, 2009 - 3:58 PM EST)
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