Macroeconomy/Finance

Credit Suisse cuts Brazil’s GDP projection to zero in 2020

Faced with the escalation of the coronavirus, Credit Suisse cut its projection for Brazil’s Gross Domestic Product (GDP) from 1.4% to zero in 2020. The bank’s base scenario now predicts a recession in the first half of 2020, with contractions of 0.1% in the first quarter (over the previous quarter) and 1.6% in the second quarter. Credit said it is assuming a projected recovery in economic activity in the second half of this year.

Source: Infomoney

Categories: Macroeconomy/Finance