The FINANCIAL — Economists again lowered their outlook for Brazil’s economic performance this year and next, as Latin America’s largest economy showed no signs of recovery, according to Nasdaq.
Brazil’s gross domestic product is expected to contract 3.05% this year, according to a weekly central-bank survey of 100 economists, compared with expectations last week for a contraction of 3.02%.
The forecast marked the 16th straight downward revision in the weekly survey of economists.
For next year, economists expect GDP to contract 1.51% compared with a previous forecast of 1.43%.
The economists increased their estimate for inflation in 2015, as measured by the consumer-price index, to 9.91% from 9.85%, according to the survey.
For next year, they increased their inflation rate estimate to 6.29% from 6.22%.
Respondents maintained their 14.25% forecast for the benchmark Selic interest rate at the end of 2015, and kept their view for 2016 at 13%. The rate currently is at 14.25%.
The economists surveyed also maintained their forecast for 2015’s trade balance to show a $14 billion surplus.
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