New Market Study, "Brazil Shipping Report Q3 2014", Has Been Published
We believe that Brazil's economic recovery will falter this year, and are revising down our 2014 real GDP growth forecast from 2.4% to 2.0%, below our 2013 estimate of 2.3% growth. Indeed, further monetary tightening, significant exchange rate weakness and ongoing project delays in the infrastructure sector will negatively impact both the private consumption and fixed investment components, weighing on headline growth.
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