Brasília – Financial market analysts are expecting an increasingly lower growth rate for Brazil’s economy. For the 12th week in a row, the estimate for this year’s Gross Domestic Product (GDP), i.e. the sum of all goods and services produced in the country, has been revised down. This time, the projection has gone from 0.81% to 0.79%. The rate is a median of expectations (disregarding extreme projections) by financial institutions polled on a weekly basis by the Brazilian Central Bank, regarding the main economic indicators.
For 2015, the GDP growth projection remains at 1.2%. Industry output is expected to be down 1.76% this year. As of last week, a 1.53% decline was expected. Next year, industry output is expected to rebound and be up 1.7%.
Last Friday (15th), the Central Bank reported that economic activity declined by 1.2% in Q2 from Q1 this year. The Central Bank’s Economic Activity Index (IBC-Br) keeps track of economic performance trends.
*Translated by Gabriel Pomerancblum
