3.5% is the estimative of economic growth this year

The Central Bank (BC) maintained the estimative of economic growth – Gross National Product (GNP) – this year in 3.5%. The information is part of the Inflation Report released this week by the Central Bank of Brazil.

According to the institution, the Brazilian economic activity has showed a moderate decrease in 2012, due to the effects of the economic policy and some deterioration of the international environment, but the perspectives point out to acceleration this year. In 2011, the economy grew 2.7%.

According to the report, "the maintenance of favorable conditions in the labor market and consumer confidence at high level, as well as the improvement in business confidence indicators, suggests consistency in the process of regaining economic growth."

On the external scenario, the Central Bank highlights the “recovery of the U.S. economy,” beyond the “perspectives of financial conditions stabilization in the Euro Zone” and the accommodation of the economy in Asian countries, still at high level. According to the Central Bank, this scenario could favor Brazil’s economic activity in the coming months.