The Brazilian Institute of Geography and Statistics (IBGE) reported economic growth quarter-on-quarter, with agriculture leading the way.
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The estimate regarding the 2019 National Extended Consumer Price Index from banks polled by the Brazilian Central Bank moved from 3.46% to 3.52%.
Brazil’s federal, state and local governments posted a combined USD 2.2 billion surplus last month.
GDP growth was driven by a 6.2% rise in the logistics sector. Foreign trade also had an impact.
Brazilian financial institutions expect prices to have gone up 3.33% by the end of this year in Brazil, up from last week’s 3.31% forecast.
Fund stressed the huge number of Syrian refugees hosted in the country. However, GDP undergoes a period of weak growth.
Numbers are by think tank Fundação Getulio Vargas’ GDP Monitor released this Wednesday (16).
Fund predicts that global GDP will grow by 3% this year and 3.4% in 2020. Brazil and Saudi Arabia may see a recovery next year.
Banks reduced their inflation forecast for the tenth straight time.
The Arab country’s economy grew 0.84% in the second quarter of this year, despite weaker oil industry performance.
Forecasts from Brazilian financial institutions polled by the Brazilian Central Bank eased marginally, going from 3.44% to 3.43% for inflation and from 5% to 4.75% for the interest rate.
Activity slowed down compared with July, the Brazilian Central Bank reported this Friday.
This Tuesday’s Macro Fiscal bulletin shows a revised economic expansion estimate, from 0.81% to 0.85%.
The average price hike forecast from Brazilian financial market players was down for the fifth week on end, from 3.59% to 3.54%.
