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4 CONTRIBUTIONS: 4.2 BRAZIL
2018/01/22
Reported by the Brazilian Association for HVAC&R (ABRAVA)
 
The Brazilian economy stagnated in 2017. There were no signs of improvement in domestic consumption and unemployment, and many public construction contracts were stopped. In addition, the government did not have many resources to spend due to fiscal adjustment. Instituto Brasileiro de Geografia e Estatistica (IBGE)/Credit Suisse estimated GDP projection at 2.5% and domestic consumption at 2.8%.
 
These weak factors directly influenced the HVAC&R sector in 2017. However, the sector regained strength in the second half of the year. Total Brazilian HVAC&R sales in 2017 recorded about 27.8 billion real (US$ 8.4 billion). In 2018, there will be elections and improvement in the market and economic growth are expected.
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