Photo: Brazilian economy
Private sector analysts have revised their 2013 growth forecasts for the Brazilian economy downward to 2.28 percent from 2.3 percent, the Central Bank said Monday.
The gross domestic product (GDP) estimate was included in the Boletin Focus, a weekly Central Bank survey of analysts from about 100 private financial institutions on the state of the national economy.
Analysts also trimmed their 2014 growth forecasts for South America’s largest economy.
Expectations are for GDP to grow 1.95 percent this year, down from the 2 percent forecast last week.
Private forecasters are less optimistic about the outlook for this year than the government, which expects GDP to grow 4 percent in 2014.
Private sector analysts revised their 2013 inflation estimates upward from 5.73 percent last week to 5.74 percent this week, but they trimmed the inflation forecast for this year from 5.98 percent to 5.97 percent.
Analysts expect Brazil’s benchmark Selic interest rate to be at 10.5 percent by the end of 2014.