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Brazil & Southern Cone - July 2011 (ISSN 1741-4431)

ECONOMY: Still booming

Economic statistics are still not flashing amber, despite international investors fretting about the overvaluation of the Real against the US dollar. In the first week of July, the Real/US$ rate touched R$1.558, the highest for 12 years. Any sign that such a rate would cramp the domestic economy was belied by employment data, published on 19 July which showed that the unemployment rate in June, according to the official statistics agency, Ibge, was only 6.2%. This was the lowest rate for any June since 2001.

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