International confidence grows with Lula: J.P. Morgan raises forecast for Brazil's GDP

247 - On Friday (16), J.P. Morgan once again adjusted its growth projection for Brazil's GDP in 2024, raising it from 2.5% to 2.9%, after an initial revision had increased the forecast from 1% to 2.5%. This growth reflects a series of positive data, with economic activity exceeding the expectations of the financial market, indicating a strengthening of the foundations of the Brazilian economy.

The economy's resilience in the second quarter, with a 1.1% increase in the Central Bank's Economic Activity Index (IBC-Br), was one of the key factors for this revision. Friday's data came well above market analysts' consensus, who expected a monthly rise of 0.50%.

Given the new projections, the Ministry of Finance is expected to announce an increase in the GDP growth estimate for 2024 in September, which could reach between 2.7% and 3%.