Brazil economy to contract 2.06% and 0.24% next year, says Central bank survey

Wednesday, August 26th 2015 - 06:46 UTC

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GDP estimates come from the Boletin Focus, a weekly Central Bank survey of analysts from about 100 private financial institutions on the state of the economy

Analysts expect Brazil's economy to contract by 2.06% this year, with the inflation rate coming in at 9.29%, the Central Bank said Monday. GDP estimates come from the Boletin Focus, a weekly Central Bank survey of analysts from about 100 private financial institutions on the state of the national economy.

The analysts now expect the economic contraction in 2016 to be slightly worse than in their previous forecast, with GDP falling by 0.24%.

In the previous survey, analysts said they expected the economy to contract by 0.15% next year.

Analysts said in the previous survey that the economy would contract by 2.01% this year, which would be the worst performance since 1990, when the country's GDP dropped by 4.35%.

Analysts trimmed their inflation outlook for this year modestly from 9.32% last week to 9.29% in the latest survey.

The government still expects inflation to end the year within its target range of 4.5%, with a 2% band that would put the top end rate at 6.5%. If the forecasts prove accurate, Brazil would post its highest inflation rate since 2002, when the consumer price index rose 12.53%.-

Categories: Economy, Brazil.

Tags: Brazil, Brazil economy, Brazil GDP, Central Bank of Brazil.

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yankeeboy
They're not factoring in China going off a cliff.
They're not factoring in Soy is unprofitable if it needs long transport.
They're not factoring in the huge drop in BREAL that on the horizon.

This recession will be a depression.
Aug 26th, 2015 - 12:52 pm 0
ChrisR
0.24%

Ha, ha, ha. They can't even measure the amount of corruption and the effect it is having on the economy and they want us to believe this?

Ha, ha, ha, ha.
Aug 26th, 2015 - 06:11 pm 0
Tik Tok
Every survey it's worse, but the reality is they lag the real situation which is an unmitigated disaster!
Aug 26th, 2015 - 06:27 pm 0

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