Investment in Brazil may be supported by sustainable economic growth
Date added: 6th July, 2011 at 10:25
(view all articles from July, 2011)
Categories: Economy
People making an investment in Brazil are likely to be aware the country's strong growth rate has led to some concerns about the economy overheating, but new data has suggested that the rate of expansion is slowing to a sustainable pace.
The HSBC and Markit Services Purchasing Managers' Index (PMI) for the nation showed that the sector grew for the 23rd consecutive month in June, with the Composite Output Index recorded at 51.1.
However, this is a drop from May's posting of 53.0, which suggests that the industry's expansion is easing.
Brazil's gross domestic product grew at a rate of 7.5 per cent last year, but chief economist at HSBC Andre Loes said that the new figures indicate that the nation is not at immediate risk of overheating.
"Overall, the Services PMI seems consistent with perceptions that although the economy continues to expand at a solid pace, growth softened to a more sustainable rate," he said.
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