Analysis by Region - Emerging Markets - Brazil
In our final data update of 2024, we expect growth in the new year to moderate considerably to 1.5% from 3.2% this year. Monetary policy is quickly shifting into a much more contractionary stance as policymakers turn less and less tolerant of above-target inflation. We expect household consumption to sharply slow as inflation erodes real wage growth and the unemployment rate gradually shifts upward to 8% from 6.2%.
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