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Economic Activity Disappoints, Lula on Bolsa Familia

BRAZIL
  • The central bank’s economic activity index known as IBC-Br rose by just 0.05% in Sept on a monthly comparison. This was up from a 1.13% decrease last month, however, comes in slightly below expectations, a marginally bearish development for the monthly reference of the country’s GDP.
    • Similar to Mexico – a very quiet week on the data calendar with developments on the political front remaining in focus for local markets.
    • Brazil’s elect vice-president Geraldo Alckmin announces new members to the transition team in Sao Paulo at 3pm local time.
  • President-elect Luiz Inácio Lula da Silva’s team plans to withdraw 175b reais of the spending cap to pay the Bolsa Família aid of 600 reais, in addition to another 150 reais for each child up to 6 years old, said Senator-elect Wellington Dias to journalists in Brasilia.
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  • The central bank’s economic activity index known as IBC-Br rose by just 0.05% in Sept on a monthly comparison. This was up from a 1.13% decrease last month, however, comes in slightly below expectations, a marginally bearish development for the monthly reference of the country’s GDP.
    • Similar to Mexico – a very quiet week on the data calendar with developments on the political front remaining in focus for local markets.
    • Brazil’s elect vice-president Geraldo Alckmin announces new members to the transition team in Sao Paulo at 3pm local time.
  • President-elect Luiz Inácio Lula da Silva’s team plans to withdraw 175b reais of the spending cap to pay the Bolsa Família aid of 600 reais, in addition to another 150 reais for each child up to 6 years old, said Senator-elect Wellington Dias to journalists in Brasilia.