Very good news were out today. Credit conditions are strong, along with solid job creation, and rising real income.Car loans are up 16% according to a report released today on consumer spending. Lending to individuals maintained a solid pace in July, with daily average concessions jumping 1.3% over June, adjusting for inflation and seasonality. ThisContinue reading “Consumer spending firm in the third quarter”
Mark Mobius answers this question in a blog post. Can you comment on Brazil? Where do you see Brazil 10 years from now? – James, United States Brazil is a key producer and exporter of commodities. Strong commodity prices associated with a solid domestic demand for goods and services have been key drivers of itsContinue reading “Where do you see Brazil in 10 years?”
Luxury items? Doing fine thank you. A recent survey by consulting firm PonteEstratégia revealed that middle class Brazilians(earning R$1,500-R$5,000 per month) spend 30% to 60% of their income on luxury items. On the same note, GFK institute and MCF consultancy announced that the luxury market in Brazil will grow more than the economy as a whole; 23%Continue reading “A country of “Nouveaux Riches” .. yet Brazil is 3rd income inequality”
Heavy taxes and a lot of bureaucracy. Those are the thoughts that came to my mind when I saw the latest FGV estimate; Brazil’s informal economy is R$578bn, or the equivalent to Argentina’s total GDP. The good news is that although sizeable, the statistic reveals a more formalized economy than in 2003, when 23% of GDP was estimated to be informal.
The Economist writes about Facebook going over 500 million users, comparing the social network to states like Brazil, India, China and the United States. Viewed this way, Brazil is still bigger than Twitter, but smaller than Facebook or Myspace. But, why would one really view it this way? Still it may provide food for thoughtContinue reading “Brazil in The Economist: BRICs v Facebook; Real 31% overvalued per Big Mac Index; Samba Hackers”