BOJ Poised for Historic Rate Hike as Japan Signals Shift Toward Monetary Normalization 
Japan Exports to U.S. Rebound in November as Tariff Impact Eases, Boosting BOJ Rate Hike Expectations 
Russia Stocks End Flat as Energy Shares Support MOEX Index 
EU Delays Mercosur Free Trade Agreement Signing Amid Ukraine War Funding Talks 
Oil Prices Climb on Venezuela Blockade, Russia Sanctions Fears, and Supply Risks 
Trump Orders Blockade of Sanctioned Oil Tankers, Raising Venezuela Tensions and Oil Prices 
BoE Set to Cut Rates as UK Inflation Slows, but Further Easing Likely Limited 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
Kevin Hassett Says Inflation Is Below Target, Backs Trump’s Call for Rate Cuts 
Economic growth in Brazil declined during the third quarter of this year, coming in line with what markets had initially anticipated.
The gross domestic product (GDP) fell 0.8 percent over the third quarter of 2016 versus the second quarter in seasonally adjusted series. It is the seventh fall then this comparison. Compared to the same period of 2015, there was a contraction of GDP (- 2.9 percent) for the 10th consecutive time, data released by statistics agency IBGE showed Wednesday.
Accumulated in the four quarters ending in the third quarter of 2016, GDP fell by 4.4 percent compared to the previous four quarters, seventh consecutive negative result. In the accumulated result of the year until the month of September, the GDP showed a 4.0 percent decline over the same period of 2015, the biggest drop for this period since the series began in 1996.
Services, transportation, storage and postal services declined by -2.6 percent, other services by -1.0 percent, financial intermediation and insurance took a -0.6 percent dip, while trade was down -0.5 percent. Further, administration, health and public education fell-0.1 percent and real estate activities remained practically stable in the quarter, while the activity of information services changed positively by 0.5 percent.
From the perspective of expenditure, gross fixed capital formation fell again (-3.1 percent), after growing 0.5 percent in the previous quarter. The households' consumption expenditure fell -0.6 percent for the seventh straight quarter and government consumption expenditure decreased by 0.3 percent. In the external sector, exports fell 2.8 percent, while imports fell 3.1 percent in the second quarter 2016.
However, there was growth of 3.8 percent in mining, driven by oil and natural gas extraction. The manufacturing industry (-2.1 percent) and construction (-1.7 percent) fell. Have electricity activity and gas, water, sewage and urban sanitation registered negative growth of 0.2 percent in the quarter.
Meanwhile, the USD/BRL currency pair has formed a 'Bearish Opening Marubozu' candlestick pattern at 3.40, signaling a possible downtrend in the near term, down 0.09 percent.
