Brazil got an edge over U.K. in GDP rankings

LONDON - Brazil’s report on its fourth-quarter economic growth, while falling short of expectations, was enough to cement its ranking as the world’s six-largest economy, according to statistics from Brazil and a ranking from the Centre for Economics and Business Research in London.

In 2011, Brazil’s gross domestic product rose 2.7%, Brazil said Tuesday.

CEBR, which first published a ranking with Brazil in sixth-place in December, calculates that Brazil’s economy was $2.469 trillion vs. U.K.’s GDP of $2.420 trillion, according to a report in the U.K.’s Telegraph, citing the CEBR.

Brazil’s growth slowed a lot in 2011 compared with the torrid 7.5% pace set in 2010, noted Enrique Alvarez, head of fixed-income research at IDEAglobal in New York.

Brazil’s growth “is in more mundane territory for 2011, and the official estimate is 4% for this year,” Alvarez said. “Yes, it may have overtaken the U.K. for now, but the story in and of itself is that Brazil is slowing very markedly.”

Click here to read the full article.

  More Latest News
more about payments

Copyright © 2011-2018 | | All rights reserved.   Legal   About Us