Fitch Ratings has lowered Brazil’s economic outlook as industry figures slide. We explain the reasons for it: both from an economic and a political perspective.
Brazilian industry falls further than predicted
Though Brazil still lacks consolidated, recent data on economic indicators — which would give a clearer picture of the pandemic’s impact on the economy — all signs point to a serious deterioration of conditions in the coming months. In March, Brazilian industry suffered a 9.1-percent decline in output — the biggest slide since the May 2018 truckers’ strike. The drop is a direct result of the coronavirus crisis,...
