Day: September 11, 2020

Brazilian unemployment insurance claims fell 18.7% in August

New unemployment insurance claims in Brazil fell sharply in August. New claims totaled 463,835 in August, economy ministry figures showed, down 18.7% from the month before and down 18.2% from August last year. This marks the third consecutive monthly fall in new claims since the record of nearly 1 million in May, although the total 4.99 million claims in the first eight months of this year is still up 7.5% on the same period a year ago, the ministry said.

Brazilian retail sales increase 5.2%, the highest in six years

Brazilian retail sales in July surged to their highest in almost six years, official figures showed, as the continued easing of lockdown measures across the country fueled another strong monthly rebound in activity. The 5.2% rise in retail sales excluding cars and building materials last month was more than four times the median forecast of a 1.2% rise in a Reuters poll of economists. On an annual basis, sales rose 5.5% in July compared with the same month last year, statistics agency IBGE said, more than double the 2.2% rise economists in the Reuters poll had expected.

Latin America is emerging as a green powerhouse with Brazil generating 50 GW

Latin America is emerging as a green powerhouse. With auctions already adopted throughout Latin America, Rystad Energy expects the region’s 49 GW of renewable capacity will skyrocket to 123 GW by 2025, with one the biggest increases coming from Brazil. Brazil has generated a mammoth 50 GW. With prices dropping to the mid-$20’s per MWh, and even as low as $18 per MWh in Brazil, auctions are likely to move forward in most countries despite pandemic-related delays.