Economists Reduce Brazil GDP Outlook For 2016 and 2017

Economists reduced once again their outlook on Brazil’s economic performance for this year and next year, underscoring a prolonged recession of Latin America’s largest economy.

Brazil’s gross domestic product is expected to shrink 3.66% this year, according to a weekly central-bank survey of 100 economists, compared with expectations a week ago for a 3.60% contraction. This marked the tenth-consecutive downward revision.¬†For 2017, economists reduced their view of the country’s economy expansion to 0.35% from 0.44%.

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