A Look At Economic Developments Around The Globe

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SAO PAULO — Brazil's annual inflation rate slowed to 5.2 percent in May as a recession slashed domestic demand, but not likely enough to deter the country's fourth interest rate cut this year late on. Consumer prices rose 0.47 percent from the previous month, faster than expected but slightly less than the 0.48 percent gains seen in April, the national statistics agency said. Gains in food prices quickened to 0.44 percent for the month, while increases in personal and health care costs slowed and transport costs fell. Annual inflation was 5.53 percent in April and about 5.9 percent at the end of last year.

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SINGAPORE — Singapore analysts cut forecasts for 2009 economic growth — and now expect a deeper recession — as the global slowdown hurts demand for the city-state's exports. The country's gross domestic product will likely shrink 6.5 percent this year, according to the median forecast of 19 economists in a quarterly survey that the central bank released. In the previous survey in March, analysts had expected the economy to contract 4.9 percent this year. But they boosted their forecast for 2010 growth to a 4.2 percent expansion from 3.3 percent.

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