Brazil trims 2013 GDP growth down to 2.5 percent on economic indicators
AFPSAO PAULO--Brazil's Central Bank on Monday trimmed its 2013 GDP growth forecast for Latin America's leading economy from 2.7 to 2.5 percent.
October 2, 2013, 12:09 am TWN
In its monthly report, the Bank said second-quarter GDP growth had come in at 1.5 percent — slightly above forecasters' expectations — while adding it expected a strong fourth-quarter showing.
“Indicators show a slowdown in third quarter growth,” the bank said. “On the other hand, activity tends to take off again in the final quarter.”
The Bank added it saw consumer demand, which has fueled strong growth in Brazil in recent years would continue on an upward path — albeit at a more “moderate” rate amid strong investment and exports after falls in the real-dollar rate.
Market expectations for GDP growth this year are 2.4 percent, dipping to 2.2 percent in 2014, according to a study released Monday.