• Categories
  • Archives

Brazil’s Industry to Hire and Invest More in 2005

The latest quarterly survey of Brazil’s manufacturing sector (Sondagem Conjuntural da Indústria de Transformação), which has been conducted regularly for 38 years by the Getúlio Vargas Foundation’s Brazilian Institute of Economy (Ibre/FGV), found that the sector is optimistic about 2005.

Although the survey was released in December, it was made in October; that is, before two increases in the country’s benchmark interest rate (Selic) and the drop in the value of the dollar against the real. It reflects sector expectations regarding 2005.


According to Aloisio Campello, who coordinated the survey, it interviewed 1,003 industries in 24 states, which employ 967,434 workers and have annual revenue totalling US$ 135 billion (360 billion reais), or around 25% of total sector revenue. The survey, explains Campello, focused on six areas.


Revenue – 83% of those interviewed said they expected a rise in revenue in 2005. That was up from 80% in the prior survey (in October 2003, which measured expectations for 2004).


Business – In October 2002, 48% of those interviewed said they expected more business in 2003. In October 2003, once again, 48% expected more business for the next year. In October 2004, the number had risen to 67%, with regard to 2005.


Hiring new workers – In the last three surveys, the number of those interviewed who said they expected to hire new workers in the next year rose from 29% (2002), to 35% (2003) to 47% last October.


Investments – In the last three surveys, the number of those interviewed who said they expected to increase investments in the next year rose from 33% (2002), to 45% (2003) to 52% last October.


Exports – In the last three surveys, the number of those interviewed who said they expected to increase exports in the next year fell from 64% (2002) to 55% (2003), and rose to 63% last October.


Imports – By showing that they expect to increase imports, industries are saying they expect to increase production. In the last two surveys, the number of those interviewed who said they expected to increase imports in the next year has gone from 31% to 43%.


Translation: Allen Bennett
Agência Brasil

Tags:

  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

Brazil Market Goes Up While Expecting Interest Rate Cut

Latin America moved higher across the board, giving some relief to investors following recent ...

Tourists in Brazil Will Have Lessons on Typical Fruit

The Brazilian Fruit Institute (Ibraf) and the Brazilian Export Promotion Agency (Apex) established a ...

Brazil Sees Chaos Scenario If Caught in Blackout During Olympics

The recent blackout in Brazil, which left 50 million people in the dark across ...

Brazil Tries to Put a Good Face on Bad GDP Numbers

Brazil’s minister of Finance, Guido Mantega, called the latest numbers from the government statistical ...

Father Vicenzo Ronchi, spiritual leader of Brazilian Catholic community in New York

How a New Priest and a Dying Woman Rallied New York’s Brazilian Community

Italian-born Father Vicenzo Ronchi is quite the character – he has a captivating personality, ...

Impunity in Brazil: 1,349 Rural Workers Killed and Only 15 Convictions

The final report of Brazil’s Joint Parliamentary Investigatory Commission (CPMI) on the Land points ...

Brazil’s Sports Minister Likely to Be 5th Rousseff’s Cabinet Member to Fall for Corruption

Veja, the weekly magazine with the largest circulation in Brazil (about 1.1 million copies) ...

Educating Americans

 The problem with Americans regarding Brazil is that for the most part, they are ...

National Jingle

A Brasília theatrical group created new lyrics for the national anthem and it’s been ...

Brazil's Petrobras offshore platform

Nigeria Adds Ethanol to Its Gas and Brazil Is Supplying the Additive

Brazilian state-owned oil company Petrobras will sell, in the following days, an initial shipment ...