RIO DE JANEIRO Ė Private sector economists have revised their 2017 growth forecast for Brazilís gross domestic product (GDP) upward from 0.73 percent to 0.89 percent, the Central Bank said on Monday.
Last week, the government said Latin Americaís largest economy had grown for three straight quarters following a severe two-year recession.
Private sector economists now expect Brazilís economy to expand 0.89 percent this year and 2.6 percent in 2018.
The gross domestic product (GDP) estimates come from the Boletin Focus, a weekly Central Bank survey of analysts from about 100 private financial institutions on the state of the national economy.
Brazilís economy grew 0.10 percent in the third quarter and 1.4 percent, compared to the same period last year, the government said in a report released on Friday.
The Brazilian economy is slowly recovering after contracting 3.8 percent in 2015, the worst performance in 25 years, and 3.6 percent last year, marking the first time since 1931 that GDP fell for two consecutive years.