By Dow Jones Business News – 7/27/2015
Economists reduced their forecasts for Brazil’s economic performance once again, for this year and for 2016, as the country’s economy fails to regain traction.
Brazil’s gross domestic product is expected to contract 1.76% this year, compared with a contraction of 1.70% expected last week, according to a weekly central-bank survey of 100 economists.
For next year, economists reduced their view for an expansion of 0.20%, versus 0.33% projected in the prior week. The forecasts for both years marked the second consecutive downward revision by economists.