Brasília – For the second week in a row, financial market analysts polled by the Brazilian Central Bank have revised their economic growth projection for this year. The Gross Domestic Product (GDP) growth estimate for this year dropped from 1.52% to 1.50%. The projection for 2013 was revised down from 3.96% to 3.94%. The figures were released in the Focus report, released by the Central Bank on a weekly basis.
The projection of decline in industrial output this year has changed from 2.39% to 2.30%. Output is expected to rebound and return to growth in 2013. The growth estimate has been revised from 4.15% to 4.20%.
The exchange rate projection has been maintained at R$ 2.03 for US$ 1 this year, and at R$ 2.02 for US$ 1 in 2013. The trade surplus forecast (exports exceeding imports) has been revised from US$ 19.2 billion to US$ 19.6 billion this year and kept at US$ 15.52 billion in 2013.
*Translated by Gabriel Pomerancblum
