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Brazil’s Central Bank reduces GDP growth forecast for 2015 to 0.13%

Brazil’s Central Bank reduces GDP growth forecast for 2015 to 0.13%

BRASILIA: In less than a month of the New Year, the financial market follows with a daunting position relative to the growth of the country in 2015, which will be stable again.

To the Gross Domestic Product (GDP) this year, according to the Focus Market Report released, 26, the estimate is expansion of 0.13% compared to rate of 0.38% pointed in the previous survey four weeks ago; the bet was a high this year of 0.55%.

As for 2016, the expectation is more optimistic, but still experienced a sharp deterioration this week. The projected growth of 1.80% the previous week was replaced by a rate of 1.54%.

Four weeks ago, the median of GDP growth projections in the coming year was 1.80%. Industrial production remains as vital sector for making the forecasts for GDP in 2015 and 2016.

The median of market estimates for the manufacturing sector reveals an expected high of 0.69% this year compared to 0.71% expected last week and 1.02% four weeks ago.

For 2016, the expansion of betting for the industry fell from 2.65% to 2.50%, the same level appointed four weeks before.

Economists remained unchanged their estimates for the indicator that measures the ratio of net public sector debt to GDP. For 2015, the median forecast remained at 37.00%, rate also seen four weeks before.