After two consecutive years of recession, the Brazilian economy has been featuring signs of rising out from its decline making investors snatch up with Brazil’s stocks.
Based on the rate indicator of the central bank, the largest country in Latin America showed positive growth in its economic activity which is the fastest progress seven years ago. The bank further mentioned on Monday that IBC-Br index boosted by 1.31 percent in the month of February followed by an upward revision with 0.62 percent expansion in past month.
Henrique Meirelles, country’s Minister of Finance, said that economy would probably end 2017 with a significant annual rate of growth.
Brazilian officials together with investors have extreme hopes for the economy of Brazil but investors supported iShares MSCI Brazil Capped ETF (EWZ), reaching more than 11 percent within this year as it performed better than S&P 500.
Moreover, Brazilian Real also rose versus greenbacks and grew by 4.5 percent. BRL further jumped further on Monday gaining 1.3 percent.
