Brazil Economy to Expand 7.7% in 2010, RBC Capital Markets Says

June 15, 2010, 12:37 PM EDT

By Veronica Espinosa

June 15 (Bloomberg) -- RBC Capital Markets increased Brazil's economic growth outlook for 2010 to 7.7 percent from 6 percent after a "solid start" this year.

The nation's statistic agency said June 8 that Latin America's largest economy grew 9 percent in the first quarter from a year earlier, the fastest annual rate since 1995, and 2.7 percent from the previous quarter, "giving 2010 a solid start," Nick Chamie, head of emerging-markets research at RBC, said in an e-mailed report. RBC expects Brazil to grow 4.5 percent in 2011.