Brazil poised to grow at least 5.5%

A surge in consumer demand and a strong recovery in investment suggest that Brazil’s economy is on course to grow at least 5.5 per cent this year, according to data released on Thursday by the IBGE, the country’s national statistics office.

Consumption by families increased b7.7 per cent in the fourth quarter of 2009 compared with the same period in 2008, the IBGE said. Investment increased 3.6 per cent over the same period and 6.6 per cent compared with the previous quarter.