Brazil’s GDP advanced 1.1% in November compared to October 2020, according to the GDP Monitor, compiled by the Brazilian Institute of Economics of the Getulio Vargas Foundation (Ibre/FGV). Compared to November 2019, the economy fell 0.6% in November 2020. The 1.1% growth of the economy in November compared to October reflects the growth registered in the three major economic activities (agriculture and livestock, industry and services).
Source: Correio Brasiliense
The wind turbine blade manufacturer Aeris is in negotiations with Siemens Gamesa for a potential contract whereby it would supply the company with equipment with a capacity equivalent to 3.3 gigawatts, the company said in a relevant fact. The contract would, in principle, run until 2024 and have a total estimated value of R$2.5 billion ($463 million), Aeris added, in a statement to the Securities Commission (CVM).
Source: Money Times
Bank lending in Brazil grew 15.4% in 2020, its fastest pace since 2012, showed Febraban research. The growth was driven by lending to companies, which sought money to tackle the Covid-19 crisis. The credit portfolio of companies grew 21.7 percent in 2020, while credit to individuals increased 10.8 percent, the survey found.
Brazil’s coffee harvest in 2021 is expected to be between 43.85 million and 49.58 million 60-kilo bags, a drop of between 21.4% and 30.5% compared to last year, projected by the state-owned Companhia Nacional de Abastecimento (Conab) in its first survey of the season. Arabica coffee production was estimated at between 29.7 million and 33 million bags, with a decline of between 32.4% and 39% compared to the previous year.
Source: 6 Minutes
Following a trend in the national and international market, Renault announced the launch of a R$ 869/month ($160) subscription vehicle service, called Renault On Demand, with national coverage. The consumer only needs to worry about filling up the vehicle as maintenance, insurance and document management costs, for example, are included in the service.
Source: SP Invest