With the Brazil economy expanding at a larger-than-expected pace, Morgan Stanley (NYSE:MS) raised its outlook for the country in 2010.
The last 2010 projections by Morgan Stanley for Brazil were a growth rate of 6.8 percent, which has now been upwardly revised to 7.9 percent.
“The math changes, although our view ahead does not: Brazil’s economy is booming,” said Marcelo Carvalho, Morgan Stanley’s chief economist in Sao Paulo.
With China slowing down as a result of tackling inflation problems in their urban real estate markets, this puts Brazil in very close competition with the Chinese, who are expected to grow at a similar pace, down from the approximate 12 percent they had been growing at.
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