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Banks revise up GDP forecast

04/12/2017 at 18:27h

Brasília – The financial market revised up its forecast for the performance of the Brazilian economy this year. It expects the Growth Domestic Product (GDP) to grow 0.89% this year, against the 0.73% from the previous forecast, and 2.60% in 2018, against previous estimative of 2.58%. The data is from the Focus Bulletin, a weekly pool published at the website of the Brazilian Central Bank (BC) with forecasts for the main economic indicators.

Last Friday (1), the Brazilian Institute of Geography and Statistics (IBGE) reported that the GDP ended Q3 2017 with an expansion of 0.1% in comparison to Q2. Year-to-date, the GDP has grown 0.6% over the same period of 2016.

While the financial market revised up its economic growth estimative, its forecast for the inflation rate in 2017 has been revised down. The new forecast expects the Extended National Consumer Price Index (IPCA) to be at 3.03% at year’s end. The previous forecast was 3.06%. This was the second consecutive time the market has revised down its inflation forecast. For 2018, the IPCA forecast remains unchanged.

Via Agência Brasil. Translated by Sérgio Kakitani

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