Brasília – The National Confederation of Industries (CNI) announced today (25th) that it projects a 0.4% reduction in the Brazilian Gross Domestic Product (GDP) this year. Despite the negative projection for 2009 as a whole, the organisation expects the economy to grow in the second quarter.
CNI forecasts, however, that the industry will continue to be the sector most seriously affected by the crisis. The organisation is working with a projection of a 3.5% reduction in the industrial GDP.
The organisation also informed that the industrial GDP has decreased 11.1% in the accumulated result for the first two quarters, and that industrial production in the first four months this year was 15% lower than in the same period of 2008.
The organisation’s expectation regarding gross formation of fixed capital in 2009 is of a 9.10% decrease, whereas family consumption should see a 0.7% reduction.
*Translated by Gabriel Pomerancblum
