Consumers Show Remarkable Resilience

August 2008 | Data Release

While aggressive monetary tightening is in full-swing and our medium-term view for a continued correction in global commodity prices remains in play (notwithstanding a short-term bounce), the mercury continues to rise in Brazil's economic thermometer. Unemployment in Brazil remains on an overall downward trajectory, even with the jump in the unemployment rate to 8.1% in July, from 7.8% in the previous month.

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