Brazil’s rapid growth shudders to a halt

Brazil’s economy stalled in the third quarter of this year, demonstrating that the world’s emerging market growth engines are not immune to the global slowdown.

Gross domestic product was unchanged in the three months ended September 30, from the previous quarter, as weakness in the industrial sector spread to Brazil’s once vibrant consumer.

“Consumption is really slowing down – it’s no longer something that people feared might happen, it’s gradually being realised,” said George Lei, an economist with Nomura.

The sharp slowdown in Brazil comes as China reported last week that manufacturing activity in November contracted for the first time in nearly three years.

Read Full Article from Financial Times

- Posted: 2011-12-06 11:22:46

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