Brazil 2019 GDP development forecasts fall for 14th week in a row: survey By –


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Brazil 2019 GDP development forecasts fall for 14th week in a row: survey

BRASILIA (-) – Economists lower their 2019 Brazilian financial development forecasts for a 14th consecutive week, in accordance with a central financial institution survey on Monday, with Latin America’s largest financial system now anticipated to develop no quicker this 12 months than it did in every of the final two.

The common forecast of round 100 monetary establishments fell to 1.13% from 1.23% the week earlier than, the central financial institution’s common ‘FOCUS’ survey confirmed. That’s lower than half the tempo of development predicted in the beginning of the 12 months, and would match the subdued 1.1% fee of growth in 2017 and 2018.

Official figures final week confirmed that the financial system shrank within the first quarter by 0.2%, the primary contraction since 2016. That weak point is about to spill over into the rest of 2019, economists say, that means the chance of recession is rising.

Earlier on Monday, knowledge confirmed that development in Brazilian manufacturing exercise slowed to its weakest tempo in ten months and nearly floor to a halt in May.

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