Another Monday, another gloomy outlook from the Brazilian central bank’s weekly survey of market economists. GDP growth this year is seen at just 1.64 per cent, down from 1.73 per cent predicted last week and 1.85 per cent four weeks ago (and 4 per cent targeted by the government).
That is a fast adjustment. But hardly surprising. As the puff goes out of commodity prices and domestic consumption, the seriousness of Brazil’s failure to improve productivity is becoming increasingly apparent.
Mais
That is a fast adjustment. But hardly surprising. As the puff goes out of commodity prices and domestic consumption, the seriousness of Brazil’s failure to improve productivity is becoming increasingly apparent.
Mais
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