Central Bank lowers 2017 estimated economic growth to 0.8%
Brazil's Central Bank cut its forecast for economic growth next year.
Brazil's Central Bank cut its forecast for economic growth next year. The GDP is estimated to increase 1.3%, compared to a previous predicted 0.8% The figures can be found in a report on inflation for the fourth quarter released Thursday (Dec. 22) by the Central Bank.
According to the document, the new forecast for 2017 is “in line with the higher likelihood that economic growth takes longer as well as a more gradual process to resume its growth than what had previously been estimated.”
For 2016, agricultural production is expected to shrink 5.9% compared to a previous 2.2. The estimate for the performance in industry went from a drop of 3.3% to 3.5%.
Services should slip 2.5%, against a former 2.7%.
The prediction for the decrease in investment went from 8.7% to 10.1%. The estimated reduction in family consumption stands now at 4.2%, from 4.4%.
Translated by Fabrício Ferreira
Fonte: Central Bank lowers 2017 estimated economic growth to 0.8%
