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Macroeconomic Forecast Brazil

July 2012 | Macroeconomic Forecasts

BMI View: Industrial production remained weak in April, contracting by 2.7% y-o-y, the eighth consecutive month of contraction for the index. Furthermore, given our view that despite continued currency weakness, industrial production is likely to remain relatively uncompetitive compared to its regional peers without substantial labour market reforms, we have revised down our 2012 average industrial production forecast from 2.0% to just 0.8%.

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