Good morning! This week, we talk about how Brazilians are growing more anxious about the economy. Jair Bolsonaro’s legal quagmire. And the threat of AI for Brazilian jobs.
☕ If you like our work and want to give us an extra boost, you can fill up our reporters’ coffee mugs. Supporters get exclusive perks! Find out more.
Brazilian voters grow more pessimistic about the economy
Almost 100 days into the administration of President Luiz Inácio Lula da Silva, Brazilians’ views on the economy are getting gloomier, a new Datafolha poll finds. Just days before his narrow electoral win on October 30, 2022, 62 percent of voters believed the economy was set to improve.
- Now, 46 percent still think so. Meanwhile, the rate of those saying things will get worse has doubled in the same period.
Why it matters. Economic expectations can often become self-fulfilling prophecies. The more pessimistic people are, the more likely they are to engage in behaviors that push the economy into recession: people can stop spending to save for rainy days, and companies can freeze hiring to prepare for challenging scenarios.
- Lula knows that economic moods often spill over to presidential popularity.
Zoom out. Lula inherited a...