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Brazil & Southern Cone - July 2014 (ISSN 1741-4431)

The dreaded R-word?

On 11 July in the central bank of Brazil’s (BCB)’s latest Focus consensus report of local economists, the real GDP growth forecast for 2014 fell to 1.05%, the seventh consecutive week that that it had been reduced. The forecast now is well below both the BCB’s projection (2%) and the official government forecast (2.5%). The outlook for 2015 is barely any better, with a forecast of just 1.5%.

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