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Forecast for Brazil: GDP to go down 2.44%

Staff writer ▼ | September 9, 2015
The estimation by financial institutions for the economy’s downturn this year got worse for the eighth straight time.
Brazil workers
Latam   A weekly survey by the Brazilian Central Bank
The estimation for the fall of Gross Domestic (GDP), the sum of all goods and services produced in the country, reached 2.44%.

Last week, it stood at 2.26%. For 2016, the estimation for the decline went from 0.4% to 0.5%, the fifth straight time it’s reviewed down.

These estimations are from the Focus bulletin, a weekly survey done by the Brazilian Central Bank (BC), based on projections of financial institutions for the economy’s main indicators.

In the assessment of the financial market, the industrial output should decline 6% this year against 5.57% estimated last week. In 2016, the estimation calls for a recovery by the sector, with a growth of 0.72% against the 0.89% of the previous forecast.

The estimation for the dollar price at the end of this year was reviewed from R$ 3.50 to R$ 3.60. For the end of 2016, the estimation went from R$ 3.60 to R$ 3.70.