Q306 Growth: Bounce-Back

December 2006 | Market Strategy

After having registered a poor growth rate of just 1.15% y-o-y in Q206, the outlook for the Brazilian economy in 2006 appeared to have deteriorated a little, prompting a decline in market consensus growth forecasts for 2006 from 3.50% in August to 2.94% by late November. However, data released by the Banco Central do Brasil (BCB) show that the economy bounced back in Q306, growing by 3.2% y-o-y. Indeed, we still think that real GDP growth can meet our 3.5% 2006 and 2007 forecasts.

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