2015 est. cut to -1.8% from -1.3%, analysts including Nilson Teixeira write in report.
- See GDP -2.4% y/y in 2Q15, -2.0% y/y in 3Q15, and -1.3% y/y in 4Q15
- Vehicle sales drop, decline in business confidence, expected contraction in industrial production, deterioration in labor market conditions, and bank lending deceleration signal 2Q GDP to be even weaker than 1Q
- Expectation of greater contraction in activity in 2015 reduces the carryover of GDP growth from 2015 to 2016
- Credit Suisse says other possible scenarios for 2016 GDP are 1% contraction or 1.2% growth
- NOTE: Brazil Economy Shrinks Less Than Estimated in First Quarter: Link
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