Brazil’s GDP Growth Revised Up to 3.2% for 2023

The Brazilian economy demonstrated remarkable resilience in 2023, significantly surpassing initial expectations. The Brazilian Institute of Geography and Statistics (IBGE) revised the economic growth upward from 2.9% to 3.2%. This adjustment, announced in December 2024, reflects stronger economic performance than initially reported. Sectoral Developments Service Sector The service sector, which accounts for over 70% of […]

China’s GDP Growth Forecasts Rise as Foreign Banks Respond to Stimulus Measures

Source: Xinhua   UBS, Goldman Sachs, and Nomura have adjusted their forecasts for China’s economic growth in 2024 following a series of stimulus measures implemented since late September, predicting that Beijing will achieve its target of “around 5 percent.” International financial institutions have increased their projections for gross domestic product (GDP) growth in 2024—an otherwise […]