* CenBank's Pereira sees GDP growing more than 4 pct in Q4
* Recent data has stoked worries over pace of recovery
By Neha Dasgupta
MUMBAI, Nov 19 Brazil's economy will grow more
than 4 percent in the fourth quarter of 2012 compared with a
year ago, central bank Deputy Governor Luiz Awazu Pereira da
Silva said on Monday, signaling his confidence with the pace of
recovery in the world's No 6 economy.
Pereira's forecast matches the central bank's previous
estimates, which have started to be questioned by some private
economists after a string of mediocre economic results in
"After growing by 2.7 percent in 2011, output is expected to
be expanding by more than 4 percent" in the fourth quarter of
the year, he said in a speech at a seminar on capital flows in
Mumbai, organized by the Reserve Bank of India and the Asian
In a separate event in Brasilia, Deputy Finance Minister
Nelson Barbosa said Brazil's gross domestic product will grow
about 1 percent from the third quarter on a seasonally adjusted
basis, up from 0.4 percent in the second quarter.
A drop in economic activity as well as a contraction in
industrial output in September fueled worries of another false
start of the Brazilian economy, which has remained nearly
stagnant for more than a year.
Economists cut their forecasts for Brazil's 2013 economic
growth for the first time since August, a weekly central bank
survey showed on Monday. They see the economy expanding 3.96
percent in 2013, down from a previous estimate of 4
The Brazilian economy has showed signs of life in the third
quarter after a year of non-stop fiscal and monetary stimulus to
revive activity following a dramatic slowdown.
The central bank's eight-member monetary policy committee
has cut the benchmark Selic interest rate by 525 basis points to
a record low of 7.25 percent. The bank is expected to halt its
year-long easing cycle at its next meeting on Nov. 28.
In September, the central bank cut its 2012 economic growth
estimate to 1.6 percent from 2.5 percent. The bank sees the
economy expanding 3.3 percent in the annual period ending on
June 2013, from same period a year ago.