Brazil - Real Wage

IBGE - Brazilian Institute of Geography and Statistics - reported the average wages that prevailed in the labor market in the country's six largest cities: Sao Paulo. Rio de Janeiro, Belo Horizonte, Porto Alegre, Recife and Salvador. According to these data, the average salary in September 2013 was BRL1,900.14, equivalent to USD 867 per month. Over the past 12 months, real average salary was USD 10,575  in annual basis. In the last 9 years, , the average annual growth in real wages measured in constant USD was 3.2% a.a.

Source: IBGE

Brazil - Current Acount - Aug 2013

Brazil had a current account deficit in August which  represented 3,6% of GDP. The chart below shows the evolution of current account balance to GDP in a recent period.

Graph I - Current Account % of GDP - Last 12 months.

Brazil - Net Public Debt Aug-2013

The ratio net public debt to GDP reached 33,84 % in August 2013 and come in a downward trend over the last decade, as we can see in the graphic below. The Brazilian government is a creditor in foreign currency, and the movements of BRL depreciation leads to debt reduction, as occurred in 2008 and the start of the 2nd half of 2013.

Brazil Economic Monitor will be back soon !