Third Quarter GDP and Growth Forecast Update

BRAZIL ECONOMICS - Report 09 Dec 2019 by Affonso Pastore, Cristina Pinotti and Marcelo Gazzano

The GDP numbers for the third quarter clearly showed that the economic recovery is slowly gaining traction and that the bases for continued growth are more solid. On the demand side, the highlights continue to be the contributions from household consumption and investments, and the outlook is for these to remain the leading growth drivers in the next few quarters. Considering these results and other more recent indicators, we have raised our projections for GDP growth to 1.1% on a yearly basis this year and 2.2% next year.

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