The deceleration of GDP: Growth of only 2.2% in 2018
16 Apr 2018
by Affonso Pastore, Cristina Pinotti, Marcelo Gazzano and Caio Carbone
At the start of the year (see the Weekly Bulletin “Economic Activity Recovering More Strongly”, of February 5th), a large number of indicators portended faster growth of investments. Among these were the decline in the stock of new residential units and the improved credit conditions for businesses. Also, the reduction of loan default and revitalization of the capital market were combined with signs of maturation of the microeconomic reforms in the credit market. Finally, due to the lower real interest rates and increase in real labor income, the deceleration of consumption in the last quar...