May 15, 2019 / 12:50 PM / 9 days ago

Goldman Sachs cuts Brazil Q1 GDP growth forecast to -0.1% from +0.2%

BRASILIA, May 15 (Reuters) - Economists at Goldman Sachs on Wednesday cut their economic growth forecasts for Brazil, predicting that the economy contracted in the first quarter this year and will struggle to grow faster over 2019 than the last two years.

After a string of weak economic indicators, culminating in a decline in the central bank’s IBC-BR economic activity for March, they lowered their Q1 GDP growth forecast to -0.1% from +0.2% and their 2019 forecast to +1.2% from +1.7%.

Brazil’s economy expanded by 1.1% in 2018 and 2017. (Reporting by Jamie McGeever)

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