Top Menu

Author Archive | Rebecca Ray

Brazil: Key Economic Trends during and since the Recession

Brazil’s first quarter GDP shows continued expansion, driven by manufacturing and private consumption.  The economy grew at an annualized rate of 5.4 percent in the first quarter, and over the last four quarters it has grown 4.2 percent.  The two sectors that have had the strongest recovery since the recession, minerals extraction and finance, both […]

Continue Reading

Venezuela: GDP Shows Strong Gains in Q1 2011

Venezuela’s central bank (BCV) has released GDP data for the first quarter of 2011.  The report points to an accelerating recovery: GDP grew 4.5% over its first-quarter 2010 level.  However, if we want to look specifically at the first quarter of 2011, we need seasonally adjusted data so we can compare it to the quarter […]

Continue Reading

Update on the Venezuelan Economy

Executive Summary: After nearly six years of record economic growth, the Venezuelan economy went into recession in the first quarter of 2009, shrinking by 3.3 percent that year.  A number of analysts see this as the end of an “oil boom” and the beginning of a long period of recession and stagnation. For example, in […]

Continue Reading

Oil Prices and Venezuela’s Economy

Introduction The Venezuelan economy has grown more than 94 percent since the current expansion began in the second quarter of 2003.1  The overwhelming bulk of this growth has been in the non-oil sector.2  Throughout most of these five and a half years of unprecedented growth, the economy has often been characterized as an “oil boom […]

Continue Reading