Lack of rainfall could drive Brazil into recession in 2015

Sao Paulo

WHETHER or not Brazil gets rain - and lots of it - in the next few months is likely to be the difference between economic growth or a recession in 2015.

BNP Paribas SA says energy rationing in 2015 as a drought pares hydroelectric output would shave as much as two percentage points from gross domestic product. With economists in a central bank survey forecasting growth of 0.77 per cent, that would be enough to push Brazil into a recession.