Brazil’s National Confederation of Industry recently lowered its 2013 GDP growth outlook for Brazil to 2% from 2.6%. “The model of economic growth reliant on domestic consumption no longer holds up,” said CNI in the Business Standard.
That is not good news for an ETF like BRF, which devotes almost 35% of its weight to consumer discretionary names.
iShares MSCI Brazil ETF
ETF Trends editorial team contributed to this post.