Weekly Report - 30 August 2005

BRAZIL | Industrialists unfazed by political crisis. A substantial majority of industrialists intend to increase their investments this year. They actually plan to invest about R$46bn (US$19.2bn) which is almost 20% more than last year. This has been revealed in the regular quarterly survey of the manufacturing sector by the Fundação Getúlio Vargas (FGV) - which was conducted as the corruption scandal now engulfing the government was well under way. The industrialists do not appear to have been deterred either by the central bank's decision to keep the benchmark interest rate at 19.75%, which their associations have been saying will choke off growth.

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