Fiesp foresees 6.2% growth in GDP in 2010
O Estado de S. Paulo
The Federation of the Industries of the State of São Paulo (Fiesp) estimates the Gross Domestic Product (GDP) of Brazil should grow 6.2% in 2010, compared to a 0.4% growth this year. According to the President of the Fiesp, Paulo Skaf, next year will have a good level of recovery of the economy, with vigorous resumption of investments.
According to the Fiesp, the industrial production should increase 12% next year, which would mean a recovery over this year's performance, which should present a fall of 7%. The Index that shows the Level of Activity (INA) assessed by the Fiesp should increase 13.5% next year, compared to a fall of 8.3% in 2009. Still according to the Federation, the employment in the industry in the State should increase 6.2% in the coming year, a result superior to the fall of 4.7% in 2009. The generation of jobs in Brazil in the manufacturing sector, according to the Fiesp, should grow 6.3% in 2010, well above the 2.5% fall of this year.
The Fiesp estimates that, with the rigorous increase of the level of activity next year, the imports will grow much more than the exports. The entity foresees, in this context, that the purchases of products manufactured in other countries should leap from US$ 127.7 billion in 2009 to US$ 165.9 billion in 2010. In the case of the sales of Brazilian products abroad, there will be an increase from US$ 161.9 billion to US$ 176.4 billion in the same period. These figures indicate a fall in the commercial balance from US$ 24.2 billion this year to US$ 10.6 billion in 2010. The increase of the aggregate demand, especially promoted by the consumption of the families next year, should lead the companies to significantly increase the investments. According to the Fiesp, the gross fixed capital formation should grow 19.6% in 2010, a result that will make up for this year's 14.6% fall.