Brasília – Financial institutions’ projection for Brazilian economy growth, this year, remains in a downward spiral. For the 15th consecutive week, the survey conducted by the Brazilian Central Bank shows a smaller growth. This time, the projection for the growth of the Gross Domestic Product (GDP) has been moved down from 0.52% to 0.48%. For 2015, the estimate remains at 1.1%. These projections are part of a weekly poll of financial institutions conducted by the BC, regarding the main economic indicators.
On the 29th, the Brazilian Institute of Geography and Statistics (IBGE) announced that the GDP showed a drop of 0.6% in Q2 from Q1, the second consecutive fall.
The financial institutions’ estimate for industrial output downturn moved from 1.70% to 1.98%, this year. For 2015, the growth projection declined from 1.70% to 1.50%. The trade surplus projection (i.e. exports exceeding imports) has been moved from US$ 2.17 billion to US$ 2.41 billion, this year, and from US$ 8 billion to US$ 8.5 billion, next year. The forecast for the negative result in current account transactions (Brazil’s purchase and sale of goods and services abroad) has been adjusted from US$ 81.8 billion to US$ 81.2 billion, for this year, and has been maintained at US$ 75 billion, for 2015.
*Translated by Rodrigo Mendonça
