Brazil Economists See Lower Growth And Slower Inflation in 2017By
GDP estimate cut to 0.5% in weekly central bank survey
Consumer prices seen rising 4.85%, still above target
Brazil economists cut their economic growth forecast for 2017 for the tenth consecutive week, while estimating inflation to slow but not enough to meet the official target.
Brazil’s gross domestic product will expand 0.5 percent next year, according to economists polled weekly by the central bank. Only three months ago, they expected the Latin America’s largest economy to emerge from a two-year recession and grow 1.36 percent in 2017.
Inflation expectations have been falling more slowly: economists now expect the benchmark IPCA consumer price index to finish 2017 at 4.85 percent, still above the government’s 4.5 percent target.