Another 8% Quarter for Brazil
Second quarter growth in Brazil exceeded all expectations with GDP expanding at 8.8% compared to the same period a year earlier.
According to the AP, the Brazilian Finance Ministry had forecast growth of between 0.5 percent and 1 percent for Q2.
Capital spending was a key driver of the economic expansion, up 26.5% from a year ago as Brazilian companies ramped up production to meet strong demand. Overall growth for the first half of the year was 8.9% compared to the first half of 2009.
The $9.6 billion MSCI Brazil Index Fund ETF (EWZ) is one the largest Brazil exchange traded funds. The ETF's top holdings include Petrobras, Vale, ITAU Unibanco and Banco Bradesco. EWZ carries a 0.65% expense ratio and the 30-day SEC yield is 1.48%.
For more investing choices, see Investing in Brazil with ETFs.
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