Two indicators of growth made the news this week; household consumption’s expansion of almost 10% in the last three quarters; and the industrial electricity consumption in February was up nearly 11% year over year. This means it is now on the level it was before the financial crisis. Two distinct moments of the economic cycle, showing that the momentum is certainly positive. Growing inflation is the side effect to confirm the diagnostic. Apparently, we are keeping the pace of recovery. There are strategists predicting that the IBOVESPA will reach 85.000 by the end of the year. But of course, we need to look past the end of the year. And the stock exchange is not the sole goal we should consider. What is worth remarking is that this is the begging of a new long term cycle.
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