Show Economy: Pilar Olivares and Manufacturing Industry

show economy: REUTERS/Pilar Olivares The government now expects gross domestic product to grow 1.6% this year, down from a prior outlook for 2.2% growth, and consumer prices to rise 4.1%, up from a prior 3.8% projection, according to a bimonthly fiscal report, according to The Independent. The widely flagged cut in growth expectations comes a week before official figures are expected to show the economy shrank in the first quarter, and heaps political pressure on far-right President Jair Bolsonaro, whose poll numbers are falling. A costumer looks for drinks at a supermarket in Rio de Janeiro, Brazil May 10, 2019. Indicators of economic activity in the first quarter have not recovered as we had hoped, especially manufacturing and industry, the economy ministry report said. To that end, a further shortfall of 2.18 billion reais 539 million projected for this year will be covered by cash from a reserve fund rather than further spending freezes or cuts. Weaker growth means the central government's primary deficit will widen unless it takes further steps to keep its 139 billion reais projection intact, officials told journalists. (news.financializer.com). As reported in the news.