Brazil Economists Cut 2014 Growth Forecast for Third Week

Brazil economists cut their 2014 economic growth forecast for the third straight week, as consumer confidence in the world’s second-largest emerging market plunges to the lowest level in nearly five years.

Brazil’s gross domestic product will expand 1.67 percent this year, compared with the previous week’s forecast of 1.79 percent, according to the Feb. 21 central bank survey of about 100 analysts published today. Economists also cut their 2015 growth estimate to 2 percent from 2.10 percent last week.