Dreams on hold, Brazil’s ’new middle class‘ turns on Rousseff
By Asher Levine, Reuters
[…] Brazil’s emerging middle class is a defining legacy of Luiz Inacio Lula da Silva’s 2003-2010 presidency, a period of rapid economic growth that slashed poverty rates and fueled a massive surge in consumer spending.
It is the lowest-earning yet most populous segment of Brazil’s broadly-defined middle class, which ranges from the very comfortable to those who in developed countries would be described as the working poor.
Defined as those with a monthly household income of three to five minimum wages – about $960 to $1,600 – it includes millions who are hovering just above the poverty line but whose spending habits have been transformed.
About 108 million people, or nearly 54 percent of the population, are in the increasingly influential demographic, a key target group in the tight presidential race…