Slowing Growth and Uncertainties Over the Interest Rate

BRAZIL ECONOMICS - Report 10 Feb 2014 by Affonso Pastore, Cristina Pinotti and Marcelo Gazzano

The sharp contraction of industrial production in December was a big surprise. The index not only revealed that output fell in the fourth quarter, but also that because of the carry-over to the first quarter of 2014, it will be very hard to achieve a positive variation of the industrial production in the first three months this year. The weak industrial result will also have a negative impact on GDP, which is virtually certain to fall shy of 2% in 2014.

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