Agência Brasil
Brasília – The National Industrial Confederation (CNI) reports that sector growth was 0.53% in 2003, compared to 1.88% in 2002. The CNI says that industrial sector growth of 3% to 4% this year would be ideal, but that there will probably not be equal growth in employment.
The CNI says that the interruption in interest rate reductions was detrimental to the economy and calls on the Monetary Policy Committee to promote renewed interest rate reductions.
CNI also reports that employment in the Brazilian industrial sector rose 0.66% in 2003. However, salaries dropped 4.18% during the same period. The report also says that sales were up 0.53%, and hours worked up 0.37% in 2003. But utilization of installed capacity fell 0.92%.
