GDP: Another Frustrating Result...

BRAZIL ECONOMICS - Report 03 Dec 2013 by Marcelo Gazzano, Cristina Pinotti and Affonso Pastore
The frustrating GDP growth in the third quarter – worse than the median of market forecasts – requires us not only to revise the projection for GDP growth in 2013, but also for 2014. The third-quarter result has made it virtually impossible to reach our previous projection of 2.5% growth in 2013. The more likely figure for the year, given the latest information, is around 2.2%. Regarding next year, the information brought both by its aggregate performance and its composition indicate that although the interval containing GDP growth still contains the previous projection of 2%, the most like...

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