CNI revises downward its GDP forecast

07 de julho de 2016

Brasília – The National Confederation of Industry (CNI) revised downward its forecast for the decline of the Brazilian economy this year. The estimate for the fall of the Gross Domestic Product (GDP) went from 3.1%, in an April forecast, to 3.5%. The forecast for the industrial GDP changed from 5% to 5.4%.

According to CNI`s estimates for 2016, investments will decrease 13.9% and family consumption will go down 4.8%. When it comes to unemployment, CNI predicts the annual rate to reach 11.5% of the working-age population, or Economically Active Population (PEA, in the Portuguese acronym).

In CNI`s assessment, the inflation rate at the end of the year will be at 7.3% against 7.1% of April`s forecast. The estimate for the 2016 average dollar price is BRL 3.48 against BRL 3.33 in 2015, a devaluation of 4.6%.

*Translated by Sérgio Kakitani