Official data to be released by December 6th.
According to Bloomberg, Brazil’s economy expanded at the slowest pace in 10 quarters in the three months through September. GDP grew a mere 0.3 percent in the third quarter from the previous three months, according to an estimate by the Finance Ministry. GDP expanded 0.8 percent in the second quarter.
“We’re seeing a worsening of the crisis,” Mantega said during a congressional hearing. “Conditions similar to those of 2008 are returning and that has us very worried. The government will continue to take necessary measures to control this crisis.”
GDP growth will be 3.16 percent this year, according to a central bank survey of economists published this week. But many economists are betting for less than 3% growth in 2011.