After Negative Brazilian GDP in Q1, Market Lowers Forecast for 2019

For 2020, the financial market's expectation of economic expansion remained stable at 2.5 percent. Bank economists have also not changed the economic growth forecast for 2021 and 2022 - which continue at 2.5 percent for the two years.

By Contributing Reporter

RIO DE JANEIRO, BRAZIL - Economists from financial institutions reduced this year's expected growth in Gross Domestic Product (GDP) from 1.23 to 1.13 percent. It was the 14th consecutive drop in the indicator.

The forecast appears in the market bulletin, also known as the "Focus" report, released on Monday, May 3rd, by the Central Bank (BCB). The report results from a survey conducted last week, covering over 100 financial institutions.

The downward reviews in financial market growth expectations for this year's GDP began more intensively after the release of last year's result -- when . . .

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