May 19, 2014, 08:26:00 AM EDT
SAO PAULO–Economists reduced Brazil’s economic growth outlook for 2014, but they increased their view for next year, a weekly central bank survey published Monday showed.
The respondents in the survey reduced their estimates for economic growth this year to 1.62% from 1.69%, while they increased their 2015 estimate to 2% from 1.90%.
Meanwhile, economists raised their view for Brazil’s industrial production expansion this year to 1.40% from 1.24%. They maintained their outlook for next year at 2.37%.
Economists raised their estimates for Brazil’s consumer-price index, or IPCA, at the end of this year to 6.43% from 6.39% and maintained their view for next year at 6%.
Respondents kept their view for the Selic interest rate at the end of this year at 11.25% and for next year at 12.25%.
The Brazilian real is expected to end this year at BRL2.45 to the U.S. dollar, according to the survey.
The forecast for the trade surplus this year was kept at $3 billion, while the current-account deficit view was reduced to $79.30 billion from $80 billion.