Short-term high

26 March 2013 By Martin Hutchinson

The Brazilian president has an approval rating of 79 pct even with GDP growth running less than 1 pct and inflation rising. Past expansion, high employment and popular social policies are buoying Rousseff for now, but the slowdown and weak productivity growth mean it won’t last.

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Brazil’s President Dilma Rousseff had a personal approval rating of 79 percent as of March 19, up one point from December, according to a CNI/IBOPE poll.
Brazil’s GDP grew 0.9 percent in 2012, compared to the Brazilian government’s expectations of 4.5 percent at the beginning of the year. Brazil’s benchmark IPCA-15 price index rose 6.4 percent in the year to mid-March. The central bank’s target Selic short-term interest rate is currently at an all-time low of 7.25 percent.
The Brazilian unemployment rate was 5.4 percent in January 2013, the lowest January figure on record although up from 4.6 percent a month earlier. Labor productivity grew by 0.7 percent in 2011 and declined by an estimated 0.3 percent in 2012, according to the Conference Board’s Total Economy Database. Global labor productivity meanwhile increased 2.3 percent in 2011 and 1.8 percent in 2012.

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