Rio de Janeiro's economy grew 0.4% in Q1 from the previous quarter, spurred by growing household spending, according to government statistics agency IBGE. The 1.2%, YoY, expansion was in line with the forecasts of economists polled by Reuters, who also predict the economy will grow in the current quarter as consumer purchasing power is bolstered by low interest rates and low inflation. A truckers' strike in May will not significantly impact Q2 figures unless it triggers protests from other sectors, said Haitong economist Flavio Serrano.
Brazil's economy grew 0.4% in Q1 from the previous quarter, spurred by growing household spending, according to government statistics agency IBGE. The 1.2%, YoY, expansion was in line with the forecasts of economists polled by Reuters, who also predict the economy will grow in the current quarter as consumer purchasing power is bolstered by low interest rates and low inflation. A truckers' strike in May will not significantly impact Q2 figures unless it triggers protests from other sectors, said Haitong economist Flavio Serrano.