May 05, 2014, 08:00:00 AM

SAO PAULO–Economists reduced their estimates for Brazil’s economic expansion for this year and also for the next year, amid tepid industrial production performance and weak foreign trade activity, according to a weekly central-bank survey published Monday.

The 100 respondents in the survey reduced their outlook for the country’s 2014 economic growth to 1.63% from 1.65%, and for the next year to 1.91% from 2% previously.

Economists also reduced their view for country’s industrial production expansion for this year to 1.21% from 1.4%, while they kept their view for next year at 2.65%.

In the meantime, the forecast for the trade surplus this year was reduced to $3 billion from 3.02 billion, while the current-account deficit was raised to $78.6 billion from $77.1 billion.

Economists maintained their estimates for Brazil’s inflation at the end of this year at 6.5% and for the next year at 6%.

Respondents kept their view for the Selic interest rate at the end of this year at 11.25%, and increased their outlook for the end of the next year to 12.25% from 12%.

The Brazilian real is expected to end this year at 2.45 to the U.S. dollar, according to the survey.