In the neighboring country, they forecast a contraction for this year of 1.5 %. In the Asian giant, foreign trade fell almost 7 %.
Forecasts of a greater-than-expected contraction in the Brazilian economy, aggravated by inflation rates that will exceed 9 percent, plus the drop in Chinese foreign trade in the first half of the year, constituted the two bad news of the day for our country. .
This morning, as every Monday, the analysts of the Brazilian financial market published the Focus Bulletin where they forecast that inflation will reach 9.12 % this year, a little higher than forecast a week ago, and maintain a forecast of contraction of the GDP of 1.5 percent.
The Focus Bulletin is a weekly report that the monetary authority disseminates based on a survey with a hundred experts from the private sector.
The inflation projections known this Monday are slightly more pessimistic than those published a week ago, when analysts calculated a price increase of 9.04 %. In both calculations, the official forecast of 4.5 % is doubled and the maximum ceiling of 6.5 % is also exceeded.
In terms of economic growth, the group of experts maintained a projection of contraction of 1.5 %, the same as a week ago.
Analysts' growth forecasts exceed those of the government, which points to a contraction of 1.20 %, which would also be the worst result since 1990.
While in China, the results of that country's foreign trade were released, showing a 6.9 percent drop compared to the first half of 2014.
The Beijing Customs Administration indicated that exports registered a slight increase of 0.9 percent, while imports fell 15.5 percent.
However, the figures for June are more favorable: exports increased last month by 2.1 percent, a better figure than analysts had predicted. Imports fell 6.7 percent, but experts had predicted a further decline. China has set GDP growth targets of around seven percent this year.
SOURCE: EL LITORAL