The perspective of performance in the Brazilian civil construction segment has reached its lowest level in 16 years, according to a union in the state of Sao Paulo.
According to SindusCon-SP, which made the research at a national level, the industry’s perspective of performance reached 35.9 points, down 3.2 percent when compared to the last survey made in February this year. When compared to the same research conducted 12 months ago, the decline reached 19.7 percent.
According to SindusCon-SP, the results show the industry’s pessimism before the challenging economic situation Brazil currently faces. Brazilian government has recently announced a BRL 25.7 billion cut at its Growth Acceleration Program (PAC). It has also cut BRL 5.6 billion from the Minha Casa Minha Vida social housing program.
The industry’s perspective of performance or confidence is measured in a scale from zero to 100, in which values above 50 show growth.