Brazilian Industrial Sector at Lowest Point Since 2009
The Brazilian Congress returns to work this week after a recess and faces news that the industrial sector has fallen yet again. Congress has been pushing the Senate to vote on tax raises on Brazilian companies in order to avoid a national credit downgrade.1 Since the industrial sector has fallen in many sectors, including automobile and informatics technology manufacturing, this push from congress is necessary in order for the country to evade a full blown economic recession.2