As Brazil Growth Stalls, Economists Go From Giddy To Gloom

–Forecasts for Brazilian economic growth sink on global uncertainties

–Even government economists admit early-year forecasts too optimistic

–Most economists now forecast growth of less than 2.5% for 2012

–Overestimated the government’s ability to sustain growth

By Tom Murphy

SAO PAULO–Never have so many economists been so wrong about such a large economy.

In the first week of January, 100 economists and analysts surveyed by Brazil’s central bank produced a median forecast for economic growth in 2012 of 3.3%. That figure, although modest, would have represented a rebound from 2011′s tepid expansion of 2.7%.

The most influential economist of all, former …

Article source: http://online.wsj.com/article/BT-CO-20120703-707351.html

Posted by braziltribune on Jul 3 2012 Filed under Front Page. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry