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July 29, 2026 10:55 AM UTC
· Brazil needs better fiscal consolidation from 2028 onwards, which a new president will have to decide on after the October 2028 election. This includes better expenditure control, as mandatory spending currently comprises about 90 percent of federal primary expenditure. Any delinkin
July 28, 2026 5:33 PM UTC
We expect a 65k increase in July’s ADP estimate for private sector employment, which is well below our forecast for July’s private sector non-farm payroll of 110k (we expect overall payrolls to rise by 120k). It is however similar to June’s non-farm payroll, which rose by 57k and 49k in the pr

July 28, 2026 3:50 PM UTC
We expect July’s non-farm payroll to rise by 120k overall and by 110k in the private sector, a significant improvement from June’s respective gains of 57k and 49k but largely explained by a recovery in leisure and hospitality. We expect unemployment to rise to 4.3% from 4.2%, reversing a June de