Brazil econ­o­mists see lower growth ahead

China Daily (Hong Kong) - - BUSINESS -

Brazil econ­o­mists cut their eco­nomic growth fore­cast for 2017 for the tenth con­sec­u­tive week, while es­ti­mat­ing in­fla­tion to slow but not enough to meet the of­fi­cial tar­get. Brazil’s gross do­mes­tic prod­uct will ex­pand 0.5 per­cent next year, ac­cord­ing to econ­o­mists polled weekly by the cen­tral bank. Only three months ago, they ex­pected the Latin Amer­ica’s largest econ­omy to emerge from a two-year re­ces­sion and grow 1.36 per­cent in 2017. In­fla­tion ex­pec­ta­tions have been fall­ing more slowly: econ­o­mists now ex­pect the bench­mark IPCA con­sumer price in­dex to fin­ish 2017 at 4.85 per­cent, still above the gov­ern­ment’s 4.5 per­cent tar­get.

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