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Montevideo, June 6th 2023 - 05:41 UTC

Tag: Brazilian recession

  • Wednesday, June 6th 2018 - 08:27 UTC

    Brazil's central bank survey lowers 2018 growth forecast to 2.18%

    The downgrade was blamed on a slower than expected rate of economic recovery and crippling truckers' strikes in May

    Brazil's financial market has downgraded its 2018 economic growth forecast from 2.37% to 2.18%, according to a Focus poll released on Monday by the Central Bank. Four weeks ago, a similar survey of the country's leading financial institutions showed GDP was expected to expand 2.7%.

  • Saturday, March 3rd 2018 - 10:43 UTC

    Brazil back on the growth path in 2017 after two years of contraction

    The modest growth represented a significant turnaround for Latin America's biggest economy, which contracted 3.8% in 2015 and 3.6% in 2016.

    Brazil's economy grew by a percentage point in 2017 after two years of contraction, government figures showed Thursday, confirming the South American giant's recovery from one of the worst recessions in its history. The agro-industrial sector led the way with 13% growth last year, trailed by the service sector, which showed 0.3% growth. Industrial output remained stable.