Brazil’s civil construction union SindusCon-SP sees a lower increase in the sector’s gross domestic product (GDP), it said, adding the growth in 2014 would be between 1 and 2 percent, year on year. The forecast is below the 2.8 percent rise the segment expected for the year.
According to a jointly research made by the Sao Paulo union and Fundacao Getulio Vargas (FGV), employment rose by 0.14 percent in April, month over month, totalling 5,000 new hired workers.
After a bad performance in the number of hired workers in 2013, the segment expected to recover in the first months of 2014. In February the numbers were positive, but fell in March and were stable in April.
Sergio Watanabe, president at SindusCon, said the civil construction segment might enter in a “spiral of pessimism if we don’t concentrate in the short term.”
Beside the low increase in employment and the worsening of the perception of the Brazilian economy, the union expects more changes in the coming months. It said new fiscal adjustments “will certainly take place after the [October] elections.”