* Brazil’s national industry confederation (CNI), a private sector lobby, has maintained its forecast of below 1% GDP growth in 2019, after the economy grew just 1.1% in 2018. The CNI projects 0.9% GDP growth for this year, spurred by a 1.5% increase in household consumption, while industrial production remains stagnant. The CNI gives two main reasons for the economy and the industrial sector’s weak performance: the growing feeling that the approval of necessary reforms to kickstart the economy will take longer and be more complex than initially thought; and the lack of progress in efforts to reduce the so-called ‘Brazil cost’, the high costs associated with doing business in the country.
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