brazil emerges from recession in second quarter
News Posted On: 14 September 2009
Brazil's economy has become the latest to announce its emergence from recession, posting an impressive second quarter growth of 1.9%. This means that Brazil's recession only lasted 2 quarters, and analysts are tipping it for a strong rebound.
Meanwhile the International Monetary Fund is still forecasting that Brazil's GDP will end the year 1.3% lower than it started it. Adding weight to our believe that the world economy is recovering far more quickly than the IMF had forecast, and that the IMF will be forced to adjust its forecasts for many countries in the near future.
That said: the recovery still hinges on consumer demand expanding quickly enough to fill the void that will undoubtedly be left by government stimulus programmes being pulled back.
Brazil is one of the BRIC countries, an anagram of Brazil, Russia, India and China that Goldman Sachs created to name their combination as 4 of the world's fastest growing emerging market economies.
Of those 4 Russia and Brazil were the ones which have fallen into recession since the international downturn accelerated. However, now Brazil is apparently coming out of recession it seems that the forecast of a long recession -- at least in Brazil's case -- have been proven wrong.
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