Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.420

-4.6%

12:37 PM EST

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To: md1derful who wrote (8339)	9/21/1998 12:01:00 PM
From: Steve Fancy	Read Replies (1) of 22640

Chase Forecasts Latin America 1998 Growth At 2.5% Dow Jones Newswires NEW YORK -- Citing the impact of turmoil in international financial markets, Chase Securities forecast Monday that economic growth in Latin America would slow to 2.5% in 1998, from 5.3% last year. And Chase said things will get worse before improving. "Next year, the region as a whole will stagnate, propelled by economic contraction in both Brazil and Venezuela," Chase said in a report. Chase said the growth slowdown in 1998 will be most noticeable "in Brazil, where we expect real gross domestic product growth of only 0.7%, and Venezuela, where GDP is set to grow only 0.5%." Chase predicted that in 1999, the Brazilian economy will contract by 3%, while Venezuela's GDP growth will be a negative 2%.

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