Rio de Janeiro – Economists at the Institute of Applied Economic Research (Ipea) forecast that Brazil’s Gross Domestic Product (GDP) will be up 3% in 2018 and 2019, Ipea said in report Carta de Conjuntura this Thursday (22).
During Q1, GDP is expected to be up 1.9% year-on-year, driven by a 3.4% hike in consumption by households, a 4.3% hike in aggregate investment, and 2.6% increase in industry and 2.4% growth in services. During the following quarters, investment is seen growing by 4.5%, with private consumption picking up by 3.4%.
Translated by Gabriel Pomerancblum
