Economists Reduce Outlook for Brazil Inflation in 2017 - Survey
August 22 2016 - 8:15AM
Dow Jones News
By Rogerio Jelmayer
SAO PAULO--Economists reduced their estimates for inflation in
Brazil for next year, according to the central bank's weekly survey
of 100 economists published Monday.
Economists now expect inflation, as measured by the
consumer-price index, to rise 5.12% in 2017, compared with
estimates of a 5.14% rise last week, the survey showed.
For this year, economists maintained their view for an inflation
increase of 7.31%.
Meanwhile, economists kept their outlook for the year-end Selic
benchmark interest rate at 13.75% for the end of 2016 and 11% for
the end of 2017.
Economists estimate Brazil's gross domestic product is likely to
contract 3.20% this year, the same level seen in last week's
survey. Last year, Brazil's economy contracted 3.80%, according to
the country's statistical bureau, IBGE.
For 2017, economists raised their view of a GDP expansion to
1.20% from 1.10%.
They also maintained their expectation for Brazil to post a $50
billion trade surplus this year.
Write to Rogerio Jelmayer at rogerio.jelmayer@wsj.com
(END) Dow Jones Newswires
August 22, 2016 08:00 ET (12:00 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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