Turim MFO May Economic’s Report is now available with the main highlights of the month including:
On the international stage, Europe has accelerated its vaccination process, which has generated greater optimism about the resumption of the bloc’s economy in the coming months – particularly with the arrival of summer, where activity in the service sector is more intense.
In the U.S., the April and May inflation readings surprised the projections well up and raise the question of how these shocks might impact U.S. monetary policy.
In Brazil, first-quarter GDP also surprised and led to a round of strong upward revision in growth projections for 2021, which are already around 5.5%.
On the other hand, the low level of rainfall and strong demand have sparked the risk alert of problems with the supply of electricity in the country, which translates into higher tariffs.
Finally, while the country’s fiscal structural challenges have not changed, the high revisions in growth and inflation projections have resulted in a lower estimate for the gross debt-to-GDP ratio at the end of the year – which makes the dynamics of the coming years less unfavorable.
Want to know more? Access their report here http://wigmoreassociation.com/wp-content/uploads/2021/06/Economic-Report-May-2021.pdf