Neena Mishra – NASDAQ, 07/16/2012
2012 started on a strong note for the emerging economies but many of them have been hit recently by slowdown concerns. Of the giant BRIC nations, Brazil seems to be the worst hit.
Brazil had benefited immensely from the decade long commodity boom but growth seems to have stalled now mainly due to slowdown in its major export destinations.
According to the latest survey of economists by the Brazil’s central bank, the GDP will grow at a rate of just 2.2% this year. Last year the economy grew at 2.7%, down sharply from 7.5% growth in 2010.