The jewel in the crown

Emerging markets offer potential for significant growth in the long term. A jewel in that crown, for the medium term, is Brazil, along with the rest of Latin America

There has been a sharp improvement in the Brazilian economy thus far in 2009. GDP rose 1.9% quarter on quarter in 2Q of 2009 (annualised at 7.8%) offering evidence of Brazil’s resilience through the crisis. The consensus for the remainder of 2009’s GDP has materially improved and it is quite likely we will see positive growth rates for the year. Additional positives include the expansion of industrial production since the start of the year and the fact that retail sales have returned to pre-crisis levels. At the same time, companies have resumed hiring – Brazil has created about one million...