GDP Forecast Reduction Sends Brazilian Stocks Lower (EWZ)
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Brazilian stocks move lower again today, with the MSCI Brazil ETF (NYSE: EWZ) sliding 1.5 percent. The move contributes to a drop of 25 percent in the past 3 months.
Economists recently reduced their forecasts for 2012 growth in Brazil, dropping it from 3.2 percent to 3.09 percent, according to Bloomberg data from May 21st.
Strong efforts by the Brazilian government to foster growth there haven’t taken hold, although the economy experience "moderate" growth recently, according to the Brazilian central bank.
Economists recently reduced their forecasts for 2012 growth in Brazil, dropping it from 3.2 percent to 3.09 percent, according to Bloomberg data from May 21st.
Strong efforts by the Brazilian government to foster growth there haven’t taken hold, although the economy experience "moderate" growth recently, according to the Brazilian central bank.
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