Brazil’s economy likely surged back in Q1 powered by record crops
Brazil’s economy likely surged back to growth in the first quarter of the year, powered by record-breaking crops and solid crude oil output that more than offset the drag of subdued manufacturing activity, a Reuters poll of economists showed.
Strong exports by commodities-producing sectors were seen adding to resilient private consumption in lifting gross domestic product (GDP), despite the negative effects of high interest rates and a worrying rise in government debt.
GDP is forecast to increase 1.3% in January-March over the fourth quarter, after a 0.2% contraction in the last three months of 2022, according to the median estimate of 18 forecasts taken between May 24 and 30. The data is due on Thursday.
By Gabriel Burin via Reuters