Indicators
Brazil Economy Beats Forecasts Again as Consumers Spend Big
- Economy expanded 0.9% q/q and 4% y/y in third quarter
- Investors worry that Brazilian economy is overheating
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Brazil’s economy once again shot past expectations in the third quarter, bolstered by hefty consumer and government spending that’s fanning above-target inflation and rattling markets.
Official data released on Tuesday showed that gross domestic product expanded 0.9% in the July-September period compared to the second quarter. The expansion came on the back of robust domestic demand that has held firm in the face of double-digit borrowing costs.