Brazilian Transportation Sector Sees Mild Recovery in 2021, According to Economic Indicators

Written by Paulo Nogueira

Published on 15/09/2020 at 08:11

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A Survey Conducted with Major Companies in the Transportation Sector Showed That There Is Optimism for Recovery, But Many Fiscal Challenges Still Remain

Economic indicators, especially in the transportation sector, suggest that Brazil is leaving behind the worst phase of the COVID-19 outbreak, but will have to deal with fiscal challenges.

For the first time in three months, job losses in the transportation sector, heavily impacted by social distancing measures, did not increase. Some companies even laid off fewer employees, according to a survey presented on Monday (14) by the National Transportation Confederation (CNT).

The survey found that 35.9% of respondents expect a recovery in revenues in 2021.

ARTICLE CONTINUES BELOW

ECONOMY

The IBC-Br index from the central bank, considered a proxy for broader gross domestic product, rose 2.15% in July compared to June, marking the third consecutive monthly increase, according to data published on Monday.

The economy appears to have fared better than others overall, but fiscal risks have increased.

“Brazil’s superior performance so far can be attributed, to a large extent, to quick and decisive political responses, which helped mitigate the impact of social distancing measures on household spending (retail sales returned to pre-coronavirus levels as early as June), but due to the government’s fiscal constraints, this cannot be sustained for much longer,” said Mizuho Bank’s chief strategist for Latin America, Luciano Rostagno, in a research note.

“This means that the ongoing economic recovery will inevitably slow down in the coming quarters, and Brazil will still have to deal with its fiscal issues,” he added.

Brazilian Transportation Sector Sees Mild Recovery in 2021, According to Economic Indicators

A Survey Conducted with Major Companies in the Transportation Sector Showed That There Is Optimism for Recovery, But Many Fiscal Challenges Still Remain

ECONOMY

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Brazilian Transportation Sector Sees Mild Recovery in 2021, According to Economic Indicators

A Survey Conducted with Major Companies in the Transportation Sector Showed That There Is Optimism for Recovery, But Many Fiscal Challenges Still Remain

ECONOMY

Seen from space, an image taken by an astronaut shows an unlikely oasis in the Saudi Arabian desert, protected by a terrain that slows the advance of sand, surrounded by green circles, remnants of an extinct lake and nearly 10,000 years of preserved history.

While the U.S. still faces limitations in deep space, China is developing unprecedented technology with strategic satellites that maintain communication with the far side of the Moon and aims for dominance by 2030.

In Botswana, a salt flat of up to 16,000 km² that was once an African megalake spends months as an absolute white desert, but during the rainy season it transforms into a shallow sea that reappears from nowhere and can be seen from space in the middle of southern Africa.

The Blood Falls of Antarctica hide a living ecosystem trapped under the ice for over 2 million years, where microbes survive without light, without oxygen, and without ever having seen the Sun.

Bavarian archaeologists unearthed a medieval skeleton that had an articulated iron hand in place of its left arm, and the discovery reveals that doctors were already creating sophisticated prosthetics over 500 years ago.

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Scientists warn that Earth’s oxygen has an expiration date and that the Sun itself will be responsible for ending the air we breathe by making photosynthesis impossible in about one billion years.

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