Brazil Bucking the Trend?

Brazil's economy grew by 1.9% last quarter. While not spectacular it is indeed growth and formally signals the end of the recession for Brazil. The key, obviously, is maintaining momentum and that may be tricky.

Tax revenues are down by 7.5%. While the real has gained against the dollar, this is a silver lining with a cloud as it impacts the trade surplus. If he can keep the growth going, Lula will be bucking the trend. Time will tell.