Central Bank estimates sharper economic decline in 2015
Central Bank headquarters, Brasília
The Central Bank expects the economy to shrink more this year. The outlook for the Gross Domestic Product (GDP) decline has been revised from 1.1% in June to 2.7%, according to the Inflation Report released today (Sept. 24).
According to the bank, the agricultural production is expected to grow 2.6% (the previous estimate was 1.9%), whereas the industrial output should fall 5.6% (as against a previous forecast of 3%). The service sector is expected to fall 1.6% compared to a previously estimated 0.8% decline.
Household consumption should drop 2.4%, against an expected 0.5% forecast in June. Investment – Gross Fixed Capital Formation (GFCF)—should go down 12.3% against the previous 7% expected in June.
For the 12 months ending in June 2016, the GDP is expected to shrink 2.2%.
Translated by Mayra Borges
Fonte: Central Bank estimates sharper economic decline in 2015
