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Brazil's central bank raises GDP growth forecast to 7.3% in 2010

07-01-2010 08:30 BJT

BRASILIA, June 30 (Xinhua) -- Brazil's Central Bank raised on Wednesday its forecast for Gross Domestic Product (GDP) growth from 5.8 percent to 7.3 percent.

This would be the largest expansion in Brazilian economy since 1986, when it grew 7.49 percent.

In the first quarter of this year, according to official figures released in early June, the South American country grew 2.7 percent compared to the previous quarter and 9 percent in relation to the first quarter of 2009.

According to the monetary authority, favorable trajectories of labor market, real income, investments and indicators related to entrepreneurs' and consumers' confidence are "important signs" that the current expansion cycle shall be maintained in the medium term.

By sector, the perspective for industry growth is highlighted: 11.6 percent, against an earlier forecast of 8.3 percent. And construction, whose estimate rose from 10.1 to 13 3 percent.

For agriculture and livestock, the projection of growth is 5.3 percent, for services sector, 5.3 percent and for trade, 9 percent.

Editor:Xiong Qu |Source: Xinhua

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