Markets Actual Q4 Q1 Q2 Q3 2023
Currency 5.42 5.56 5.71 5.87 5.87 6.21
Stock Market 110036.79 104376 100891 97517 97517 91110
Government Bond 10Y (%) 12.00 12.23 12.48 12.74 12.74 13.27

Overview Actual Q4 Q1 Q2 Q3 2023
GDP Growth Rate (%) 1.20 0.3 0.2 0.2 0.1 0.5
GDP Annual Growth Rate (%) 3.20 0.8 0.3 0.4 1.1 1.5
Unemployment Rate (%) 8.90 8.5 9.1 9.5 9.9 10
Inflation Rate (%) 8.73 6.83 4.95 4.09 3.98 4
Inflation Rate MoM (%) -0.36 0.3 0.3 0.3 0.3 0.3
Interest Rate (%) 13.75 13.75 13.75 13.5 12 10.75
Cash Reserve Ratio (%) 21.00 21 21 21 21 21
Balance of Trade (USD Million) 4200.00 3027 7455 7949 7010 7568
Current Account (USD Million) -4136.00 -4800 -600 -4900 -690 -5500
Current Account to GDP (% of GDP) -1.80 -1.7 -1.9 -1.9 -1.9 -1.9
Government Debt to GDP (% of GDP) 80.27 92 93 93 93 93
Government Budget (% of GDP) -4.50 -7.5 -7.3 -7.3 -7.3 -7.3
Business Confidence (points) 62.80 58 56 55 55 53
Manufacturing PMI (points) 51.90 53 53 54 55 54
Services PMI (points) 53.90 52 51 53 55 54
Retail Sales MoM (%) -0.80 0.5 1.1 0.9 0.7 1
Corporate Tax Rate (%) 34.00 34 34 34 34 34
Personal Income Tax Rate (%) 27.50 27.5 27.5 27.5 27.5 27.5

GDP Actual Q4 Q1 Q2 Q3 2023
GDP Growth Rate (%) 1.20 0.3 0.2 0.2 0.1 0.5
GDP Annual Growth Rate (%) 3.20 0.8 0.3 0.4 1.1 1.5
GDP (USD Billion) 1608.98 1750 1750 1750 1750 1890
GDP Constant Prices (BRL Million) 310255.15 312117 307625 304301 311496 312240
Gross National Product (BRL Million) 2187879.74 2189806 2205383 2194443 2196631 2238464
Gross Fixed Capital Formation (BRL Million) 448634.92 437809 432091 421304 450429 438572
GDP per Capita (USD) 8551.21 11200 11200 11200 11200 11200
GDP per Capita PPP (USD) 14615.05 15782 15956 15956 15956 15956
Full Year GDP Growth (%) 4.60 2.3 0.9 0.9 0.9 0.9
GDP from Agriculture (BRL Million) 23247.54 18268 13632 25664 23341 13836
GDP from Construction (BRL Million) 7799.03 15225 15108 7544 7830 15334
GDP from Manufacturing (BRL Million) 29921.26 32050 29473 27854 30041 29915
GDP from Mining (BRL Million) 2380.53 2723 2536 2209 2390 2574
GDP from Public Administration (BRL Million) 38786.46 39261 39319 38822 38942 39909
GDP from Services (BRL Million) 188510.23 189682 191483 183761 189264 194355
GDP from Transport (BRL Million) 9289.42 8973 9161 8957 9327 9298
GDP from Utilities (BRL Million) 14812.55 6807 6842 14416 14872 6945

Labour Actual Q4 Q1 Q2 Q3 2023
Unemployment Rate (%) 8.90 8.5 9.1 9.5 9.9 10
Employed Persons (Million ) 99.01 95 95 95 95 95
Unemployed Persons (Million ) 9.69 12 12 12 12 12
Labor Force Participation Rate (%) 62.70 62 62 62 62 62
Wages (BRL/Month) 2713.00 2790 2790 2790 2790 2810
Minimum Wages (BRL/Month) 1212.00 1200 1200 1200 1200 1280
Population (Million) 213.32 215 216 216 216 216
Retirement Age Women 61.50 60 61.5 61.5 61.5 61.5
Retirement Age Men 65.00 65 65 65 65 65
Employment Rate (%) 57.10 55 55 55 55 55
Productivity (points) 101.82 96 98 99 99 100
Non Farm Payrolls (Thousand ) 278.64 -242 11 286 334 -250
Wages in Manufacturing (BRL/Month) 2484.00 2750 2750 2750 2750 2840

Prices Actual Q4 Q1 Q2 Q3 2023
Inflation Rate (%) 8.73 6.83 4.95 4.09 3.98 4
Inflation Rate MoM (%) -0.36 0.3 0.3 0.3 0.3 0.3
Consumer Price Index CPI (points) 6388.87 6420 6538 6629 6720 6800
Core Inflation Rate (%) 9.12 6 5 4.5 4.5 3
Producer Prices (points) 174.06 174 175 181 177 178
Export Prices (points) 139.05 124 119 120 120 123
Import Prices (points) 129.06 116 114 113 113 113
Food Inflation (%) 13.41 11.01 6.52 3.7 2.5 3
Mid-month Inflation Rate MoM (%) -0.37 0.2 0.3 0.4 0.4 0.4
Mid-month Inflation Rate YoY (%) 7.96 6.72 5.72 4.36 3.99 5.5
IPC-Fipe Inflation MoM (%) 0.12 0.3 0.2 0.2 0.2 0.2
Producer Price Inflation MoM (Percent) -3.11 0.4 0.2 0.2 0.2 0.2
CPI Housing Utilities (points) 10671.98 11385 11581 11588 11215 12044
CPI Transportation (points) 6153.29 6140 6159 6177 6196 6214
Producer Prices Change (%) 12.16 8 3.4 1.8 1.5 2

Money Actual Q4 Q1 Q2 Q3 2023
Interest Rate (%) 13.75 13.75 13.75 13.5 12 10.75
Cash Reserve Ratio (%) 21.00 21 21 21 21 21
Money Supply M0 (BRL Million) 395354.59 405260 406186 407113 407113 408966
Money Supply M1 (BRL Million) 587940.38 624076 632538 641000 641000 657924
Money Supply M2 (BRL Million) 4723683.61 4328681 4399012 4469401 4469401 4610394
Money Supply M3 (BRL Million) 9443489.45 9408860 9592000 9775140 9775140 10141420
Foreign Exchange Reserves (USD Million) 339664.00 375100 375100 375100 375100 396700
Banks Balance Sheet (BRL Million) 9029325.66 9715009 9915009 10134800 10134800 10672600
Loans to Private Sector (BRL Million) 699540.00 714256 723086 731915 731915 746631
Deposit Interest Rate (%) 5.50 5.5 5.5 5.5 5.25 4
Central Bank Balance Sheet (BRL Thousand) 4288302000.00 4611669941 4692521289 4773372638 4773372638 4935075335
Loan Growth (%) 1.60 0.8 0.5 0.3 1.1 0.7
Interbank Rate (%) 9.75 8 8 8 8 8

Trade Actual Q4 Q1 Q2 Q3 2023
Balance of Trade (USD Million) 4200.00 3027 7455 7949 7010 7568
Current Account (USD Million) -4136.00 -4800 -600 -4900 -690 -5500
Current Account to GDP (% of GDP) -1.80 -1.7 -1.9 -1.9 -1.9 -1.9
Imports (USD Million) 26675.22 24239 24338 24436 24535 24633
Exports (USD Million) 30839.92 31694 32287 31446 27675 32201
External Debt (USD Million) 663260.35 665000 665000 665000 665000 665000
Terms of Trade (points) 107.74 105 107 104 106 109
Capital Flows (USD Million) -3882.50 -761 -560 -450 -450 -380
Foreign Direct Investment (USD Million) 7722.75 4000 4900 4100 5900 4000
Remittances (USD Million) 408.67 320 350 330 330 320
Gold Reserves (Tonnes) 129.65 67.7 67.7 67.7 67.7 67.6
Crude Oil Production (BBL/D/1K) 2878.79 3020 3020 3020 3020 3100
Tourist Arrivals (Thousand) 6353.00 5500 6000 6000 6000 6000
Weapons Sales (SIPRI TIV Million) 170.00 70 70 70 70 70

Government Actual Q4 Q1 Q2 Q3 2023
Government Debt to GDP (% of GDP) 80.27 92 93 93 93 93
Government Budget (% of GDP) -4.50 -7.5 -7.3 -7.3 -7.3 -7.3
Government Budget Value (BRL Million) -65907.00 -37000 55000 -33000 -47000 -35000
Government Spending (BRL Million) 189015.36 160771 147175 176839 191095 163182
Government Revenues (BRL Million) 172310.00 188656 160787 167668 158135 199428
Government Debt (BRL Million) 7231619.18 7449494 7586625 7643279 7643279 7999479
Military Expenditure (USD Million) 25101.00 29000 29000 29000 29000 29000

Taxes Actual Q4 Q1 Q2 Q3 2023
Corporate Tax Rate (%) 34.00 34 34 34 34 34
Personal Income Tax Rate (%) 27.50 27.5 27.5 27.5 27.5 27.5
Sales Tax Rate (%) 17.00 17 17 17 17 17
Social Security Rate (%) 39.80 39.8 39.8 39.8 39.8 39.8
Social Security Rate For Companies (%) 28.80 28.8 28.8 28.8 28.8 28.8
Social Security Rate For Employees (%) 11.00 11 11 11 11 11

Business Actual Q4 Q1 Q2 Q3 2023
Business Confidence (points) 62.80 58 56 55 55 53
Manufacturing PMI (points) 51.90 53 53 54 55 54
Services PMI (points) 53.90 52 51 53 55 54
Composite PMI (points) 53.20 53 54 55 53 52
Industrial Production (%) -0.50 1.8 1.9 2.2 2.1 2
Industrial Production Mom (%) 0.60 0.7 0.7 0.5 0.9 1
Manufacturing Production (%) -0.04 -0.7 3.3 2.5 2.5 2
Capacity Utilization (%) 80.10 81 81 81.6 81.6 81.6
Changes in Inventories (BRL Million) -34455.73 -64800 -64800 -64800 -64800 -62000
Total Vehicle Sales (Units) 155095.00 145600 145600 145600 145600 145600
Car Production (Units) 237961.00 200210 200907 201603 202300 202996
Car Registrations (Thousand) 209.00 169 175 185 188 200
Leading Economic Index (%) 1.17 0.3 1.9 0.8 0.4 0.8
Small Business Sentiment 61.90 53.3 53.3 53.3 53.3 53.3
Mining Production (%) -3.76 -3 1.4 1.1 1.1 1.5
Steel Production (Thousand Tonnes) 2800.00 3089 3089 3089 3089 3089

Consumer Actual Q4 Q1 Q2 Q3 2023
Retail Sales MoM (%) -0.80 0.5 1.1 0.9 0.7 1
Retail Sales YoY (%) -5.20 0.8 2.1 1.5 1.1 2
Consumer Spending (BRL Million) 1490557.13 1360693 1463825 1411116 1496519 1485782
Consumer Credit (BRL Million) 3014748.00 3100900 3231649 3357349 3357349 3500400
Private Sector Credit (BRL Million) 4858122.00 4370660 4370660 4370660 4370660 4651600
Bank Lending Rate (%) 53.93 53.93 53.93 53.68 52.18 50.93
Gasoline Prices (USD/Liter) 1.09 1.13 1.18 1.22 1.27 1.27
Households Debt to GDP (% of GDP) 34.10 36 35 35 35 33
Economic Optimism Index (Index Points) 89.00 81 79 78 78 80

Housing Actual Q4 Q1 Q2 Q3 2023
Housing Index (points) 143.20 145 146 147 147 148