Brazil’s economic growth slowed in the first quarter as President Dilma Rousseff, who is up for re- election in October, struggles to rebuild confidence that led to the biggest decline in investment in two years.
Brazil further reduced taxes originally implemented to stem dollar inflows as the government tries to support the real in an effort to fight above-target inflation.
Brazil’s industrial production in April contracted for the second month in a row, as output of capital goods and consumer durables fell.
Brazil’s consumer prices rose less than estimated by all but one economist in the month through mid-April as the central bank continues to raise rates in the world’s second-biggest emerging market.
Brazil’s retail sales in March unexpectedly fell from February, as the central bank signals it will end the world’s longest cycle of interest-rate increases.