July 12, 2018 / 3:30 PM / 2 months ago

Brazil gov't to cut 2018 GDP growth forecast to 1.6 pct -source

SAO PAULO, July 12 (Reuters) - The Brazilian government will cut its forecast for 2018 gross domestic product (GDP) growth to 1.6 percent from 2.5 percent after a truckers’ strike and weaker sentiment among consumers and firms, a government source told Reuters on Thursday.

Truckers protesting high diesel prices blocked key roadways in the final weeks of May and nearly paralyzed major sectors of Latin America’s largest economy, triggering a round of downward revisions to growth estimates among both private- and public-sector economists.

The central bank in June slashed its 2018 growth forecast to 1.6 percent from 2.6 percent. (Reporting by Patricia Duarte; Writing by Bruno Federowski Editing by Chizu Nomiyama)

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