The CNI (National Confederation of Industry) announces this Wednesday (13) that it has reduced its GDP growth forecast from 1.2% to 0.9% in 2022.
Industrial GDP was also revised downwards, with a drop of 0.2%, according to CNI. “We expected a faster adjustment of supply chains, an adjustment that was delayed by the war and we did not expect the logistical obstacles caused by Covid in China. .
As the SA Panel anticipated last month, the review had been in the works since the invasion of Ukraine, which raised concerns in the industry. Among the factors that led to the change in the forecast, the CNI lists the impact of the conflict combined with the persistence of the effects of the pandemic that continues to cause production interruptions in China, inflation and signs of higher than expected interest rates.
The entity states that inflation should restrict the purchasing power of families and consumption also to a greater extent than expected.
Joana Cunha with Andressa Motter
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