Brazil Food and Drink Report Q3 2013

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Brazil Food and Drink Report Q3 2013 May 29th 2013, 00:00 We have downgraded our estimate for 2012 real GDP growth in Brazil to 1.0% (from 1.5% previously), asQ312 data indicate that the economic recovery is progressing more slowly than we expected. However, wecontinue to expect a significant pickup in economic activity in 2013. We forecast real GDP growth of 3.5%,as we expect a construction backlog to bolster growth and continued stimulus measures to modestly boostactivity in the consumer and manufacturing sectors.Our core view for relatively weak private consumption remains in play. High household debt levels andweaker purchasing power on the back of the Brazilian real''s depreciation is likely to constrain privatecon...

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