Brasília – The National Confederation of Industry (CNI) forecasts that the Brazilian economy will begin a slow recovery in 2017. Its forecast for the Gross Domestic Product (GDP) of next year is an expansion of 0.5%. For the industry GDP, it estimates a 1.3% growth. For this year, CNI is forecasting a GDP decline of 3.6%, with the industry sector shrinking 3.9%.
Household consumption is expected to fall 4.5% this year, with a 0.2% growth in 2017. Investments are expected to fall 11.2% in 2016 and to rise 2.3% next year.
CNI’s forecast points to an increase of the unemployment rate in 2017, reaching 12.4%, against the estimate of 11.2% made for this year. Inflation is expected to reach 6.6% this year and 5% in 2017.
*Translated by Sérgio Kakitani
