Economists now predicts that the growth in Brazil will be lower than 1% in the year of 2012. The prediction follows a disappointing growth of 0,6% from the previous trimester and 0,9% from the previous year. The predictions were that the growth should be the double from previous trimester. The growth is not only bad news. A growth rate of 0,6% is dismal, but it is better than the previous trimesters. This can be an indication that the trend is improving. Predictions for 2013 lies between 3 and 4%. Not ideal but indications of a strong improvement from 2012.
Even so, Brazil is one of the BRIC countries. During its high growth rate in the mid of the last decade it stayed below 5% which is not a whopping rate. To almost entering into recession in the downturn is not an indication of a long term boom. There are also warnings that the revisions for 2013 can be on the downside.