Another day, another dour data point for South America’s largest economy.
Brazilian consumer confidence fell to a fresh low in July, as consumers acknowledge the increasingly ugly economic reality in the country.
Inflation is surging, hitting nearly 9% in June.
Unemployment is rising, reaching one of the highest levels in the last five years in June.
The economy is already in contraction and looks set to shrivel more.
With that nasty stagflationary mix, it’s unlikely the Brazilian populace will be feeling better soon.
In other words, I wouldn’t want to be Dilma Rousseff right now.