BRASïLIA: Brazil's industrial GDP will grow two percent in 2014 after rising 1.4 percent this year, the National Industry Confederation (CNI) said Thursday.
A year ago, CNI forecast four percent growth for 2013 following a raft of government incentives for the sector.
On the plus side this year, CNI noted a 7.1 percent surge in productive investment after a four percent fall in 2012 and the 1.4 percent expansion of the industrial GDP.
Next year, the confederation expects inflation to remain high at six percent, well above the he official target of 4.5 percent.
The Brazilian economy has posted sluggish growth over the past years, expanding a paltry one percent in 2012 after 2.7 percent in 2011.
CNI is banking on 2.4 percent GDP growth this year and 2.1 percent in 2014.
Comments
Comments are closed.