Brasília – Financial market analysts revised down once again the Brazilian economic growth projection for 2014. The sector is now forecasting an increase of 0.24% rather than 0.29%, as it had last week, according to data published in the Focus Bulletin, a weekly poll of financial institutions conducted by the Brazilian Central Bank. Industrial output, in turn, is estimated to shrink by 2.14%.
For the third time in the past few weeks, the analysts have also increased the inflation rate estimate measured by the Broad Consumer Price Index (IPCA, in the Portuguese acronym) – considered to be Brazil’s official inflation rate. The new estimate for 2014 was moved from 6.31% to 6.32%%. The exchange rate estimate was also increased, previously R$ 2.35, the US dollar is now expected to cost R$ 2.40. Estimated foreign direct investments remained stable at US$ 60 billion.
*Translated by Rodrigo Mendonça
