STORIES

27 March, 2012

Brazil’s Economic Growth is Slower and Inflation is Up – Survey – PBS

Share This:

Brazil´s economy is seen growing slower than previously anticipated this year, while inflation forecasts for 2012 ticked slightly upwards, a weekly central bank survey showed last week on Monday.

The bank survey, which tracks weekly forecasts of the most-widely watched economic indicators in Brazil, showed analysts lowered their forecasts for Brazil´s gross domestic product growth in 2012 to 3.23 percent, from 3.3 percent the prior week.

However, analysts revised up slightly their outlook for inflation this year to a rise of 5.28 percent in consumer prices, from 5.27 percent in last week´s survey.

Brazil´s central bank cut rates by a larger-than-expected 75 basis points to 9.75 percent on March 7 after a sharp economic slowdown in the second half of 2011.

The country´s benchmark interest rate is expected to end this year at 9 percent, the so-called Focus survey showed, unchanged from last week´s forecasts.

The government´s efforts to spur growth will be more effective in 2013, the survey showed, as analysts revised up their estimates for growth next year to 4.29 percent from 4.20 percent.

The survey´s results are the median forecast of analysts polled by the central bank at about 100 financial institutions.

The central bank targets inflation of 4.5 percent annually, with a tolerance range of plus or minus 2 percentage points.

Source: reuters.com

Share This:

CONTACT

MADRID
Orense 34, planta 8ª 28020.
T+34 91 192 21 22

MAP

BARCELONA
General Mitre 28-30 08017.
T+34 93 363 65 10

MAP

Based in Barcelona and Madrid. Englobally is our Latin American business partner established in Santiago de Chile.

We are also part of Englobally Group, an international association of independent accounting and advisory firms that provide a one-stop shop managed solution for accounting, payroll and HR needs, with member firms in over 25 countries and associates working in many others. Many fast growing technology and lifescience businesses find their international services invaluable. Companies in many other sectors are attracted by the close and supportive way Englobally Group works.

Name

E-mail

Please leave this field empty.

Message

Please type the code below

captcha