Weekly Report - 3 October 2006

BRAZIL | GDP growth. The central bank had to lower its GDP growth forecast for 2006 from 4% to 3.5%. The decision was made after the official statistics agency, the Ibge, released its economic figures for the second quarter showing that GDP had expanded by only 0.5% on the first quarter. The disappointing result also led market analysts to lower their GDP growth estimates for the year, which average 3.2% now.

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