According to the Focus Bulletin, a report produced by the Brazilian Central Bank, the Brazilian GDP growth estimate for 2019 was reduced for the 14th consecutive week. The new forecast, according to the report that refers to the projections made by financial institutions in Brazil, the GDP of 2019 should stand at 1.13%.
Four weeks ago, the expectation was 1.49% of GDP growth in Brazil. This is the lowest projection since January 2019.
According to economist and partner of the consultancy Tendências, Alessandra Ribeiro, "the numbers of the first quarter reinforced the picture of a weak economy" in Brazil.
The chief economist of Fator Bank, José Francisco de Lima Gonçalves, believes that the investment in Brasil "is performing poorly and I do not see how this can be reversed this year and next year."
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