UK output grew more than ten times faster than production in Brazil according to industrial production statistics last week but, these days, that is faint praise. UK industrial output grew by 0.9% in September while Brazilian industrial production eked out a gain of just 0.9% over the whole year to September. Brazil can expect some boost from the completion of 2014 World Cup infrastructure but, without that, this emerging economy is battling to push output higher. With some of its key trading partners in Europe also ticking up, the improved UK conditions are inching toward being self sustaining. While global growth looks like improving in the year ahead, the initial gains, however modest, look like coming from the USA and Europe and not the developing economies. See updated industrial production charts for the UK and Brazil at (VIEW LINK).
John Robertson is Chief Investment Strategist for PortfolioDirect a provider of resource sector investment stock ratings and portfolio strategies for mining and oil and gas investors. He has worked as a policy economist, corporate business...
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