Macroeconomy/Finance

Itaú, Bradesco estimate 2.2% to 2.5% Brazil GDP growth in 2020

Itaú Unibanco and Bradesco, Brazil’s two largest banks, maintain their estimates of 2.2% to 2.5% Brazil GDP growth this year, although they warn that the next two months will be crucial for the government. This is due to the below-expected productive activity in December and slightly contradictory economic indicators in January. The market still sees favourable points in civil construction, in the record agricultural harvest, in household consumption, and, mainly, in the increase in credit, although the general unemployment rate tends to remain around 11%.

Source: Folha de S.Paulo