Published on 18 Nov 2023 on Insider Monkey via Yahoo Finance
20 Most Valuable Brazilian Companies Heading into 2024
In this article, we will take a look at the 20 most valuable Brazilian companies heading into 2024. If you want to skip our detailed analysis, you can go directly to 5 Most Valuable Brazilian Companies Heading into 2024.
Brazil's Economic Outlook: At a Glance
According to a report by Deloitte, the Brazilian economy has been very resilient this year. Private consumption grew at 3.8% in the second quarter, and data for the third quarter suggests that household consumption has strengthened. Moreover, the report also highlights that the services sector has been doing particularly well. Inflation-adjusted revenues for the accommodation and food services industry grew by 5.8% in July compared to the previous year. Additionally, the volume of retail sales also grew by 2.4% in July despite a slight decline in fuel sales during the quarter. Regarding the labor market, the inflation-adjusted wages grew by 4.6% compared to the previous year in August. The unemployment rate fell to 7.8% in August from 8.8% in March, the lowest reported value since 2015.