The main index of the São Paulo Stock Exchange, the Ibovespa, had a very negative result today, May 13, 2019. This was the announcement of retaliation from China to the US surcharge, which began at dawn last Friday.
This dispute between China and the US coupled with the fact that financial market analysts have reduced for the 11th consecutive time their projections for growth of the Brazilian economy in 2019. According to the Focus Bulletin report released on Monday (13) by the Central Bank (BC), the economy is expected to grow only 1.45% in 2019. However, there are analysts indicating that this growth should be around 1%.
This is, for example, the projection for the Gross Domestic Product (GDP) made by Itaú, one of the largest private banks in Brazil. For Itaú, Brazil is expected to grow only 1% in 2019. Itaú also reduced next year's growth forecast from 2.5% to 2%.
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