In their latest macro presentation, the french bank forecasts Brazil GDP growth of 2.8% in 2011, 2.5% in 2012, and 4.0% in 2013. And that is their optimistic forecast.

More form their report:

– The deceleration in investments, in an uncertain global context, will influence the performance in 2012;
– GDP growth will probably fall from 3.1% yoy in 2Q11 to 1.6% yoy in 1Q12. The deceleration will be greater in industry;
– GDP growth of 2.5% in 2012 assumes a certain acceleration next year, in line with a quarterly expansion in the global economy, rising from 0.6% in 4Q11 to 1.0% in 4Q12.
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