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Strategies & Market Trends : Telebras (TBH) & Brazil -- Ignore unavailable to you. Want to Upgrade?

To: Steve Fancy who wrote (1092)	2/27/1998 4:53:00 PM
From: Steve Fancy	Respond to of 22640

Brazil's H1 '98 GDP est revised up to 1.1 pct-Ipea Reuters, Friday, February 27, 1998 at 13:50 RIO DE JANEIRO, Feb 27 (Reuters) - Brazil's Institute of Applied Economic Research (Ipea) said Friday it revised upward its forecast of the country's gross domestic product (GDP) for the first half to 1.1 percent from 0.3 percent. Ipea, a body linked to the Planning Ministry, said the forecast was revised based on estimates that Brazil's industrial production in January showed a better performance than previously expected. "There are signals that January's industrial output was better than we previously expected," said Paulo Levy, coordinator of Ipea's monthly report on the Brazilian economy. Industrial production is expected to have expanded 1.5 percent in January over the same month of 1997, contradicting expectations of a sharp economic slowdown at the beginning of the year. Given the January output growth, Ipea forecast first half GDP growth of 1.1 percent, and said two percent growth for all of 1998 was reasonable. Private analysts predict between one and two percent growth for this year. Among the industrial sectors, capital goods and non-durable consumer goods are expected to have shown the highest growth rates last month, Ipea said. Official data for January industrial output from the National Statistics Institute (IBGE) are slated to come out by mid-March. Moreover, higher-than-average consumption of summer-related products caused by recent heat waves was another factor pointing to improved production at the beginning of the year, Ipea said. Copyright 1998, Reuters News Service