Good morning! Today, Brazil’s latest GDP report. The plan to privatize 15 airports. A landmark Supreme Court trial. And climate-related deaths.
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🚨 Brazil’s GDP report
The Brazilian economy grew 1 percent in Q1 2022, according to the latest GDP report published minutes ago. The results are massively below expectations, as the markets’ average forecast sat at 1.5 percent.
Why it matters: Analysts believe the economy will decelerate from now on, due to the impacts of higher interest rates on family consumption (the backbone of the economy) and the uncertainties raised by the presidential election.
- Today’s numbers show Brazil is off to a lackluster start.
By the numbers. Splitting per sector, we can see growth was pushed mainly by services (+1 percent), with industry and agriculture lagging behind: +0.1 and -0.9 percent, respectively.
Government ready to hand over 15 airports to private groups
The Federal Accounts Court gave its blessing to the government’s plan to transfer 15 airports to private control — including the São Paulo-Congonhas hub, the crown jewel of the privatization...