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