There will be sharper decline for Brazilian GDPStaff writer ▼ | April 13, 2016
The National Confederation of Industry (CNI) revised down its forecast for the Brazilian Gross Domestic Product (GDP) this year.
LatAm The National Confederation of Industry:
The forecast on the industrial GDP was changed from 4.5% to 5% in the third consecutive year showing an industry downturn.
According to CNI’s estimations, investments will shrink 13.5%, household consumption will drop 4.4% and the unemployment rate will reach 11.5% of the population.
CNI believes that “the dominance of an environment full of political uncertainties – that generates economic instability and low confidence by the agents – keeps the Brazilian economy in a deep recession”. ■