News

Banks revise up economy forecasts

13 de junho de 2016

The GDP shrinkage forecast has changed from 3.71% to 3.60% as per a Brazilian Central Bank poll of financial institutions.

Brasília – The estimate of Brazilian financial institutions for the expected shrinkage of Brazil’s Gross Domestic Product (GDP) has changed from 3.71% to 3.60%. For 2017, the growth estimate has changed from 0.85% to 1%. The projections are from a poll conducted weekly by the Brazilian Central Bank.

The forecast for inflation, which is gauged by the extended national consumer price index (Índice Nacional de Preços ao Consumidor Amplo - IPCA) was revised up for the fourth straight time, this time from 7.12% to 7.19%. The estimate for 2017 has remained at 5.50% for four weeks now.

The US dollar price projection for the end of 2016 dropped from BRL 3.68 to BRL 3.65. At the end of 2017, the estimate moved from BRL 3.85 to BRL 3.81.

*Translated by Gabriel Pomerancblum