Rio Industries Federation Projects 6.4 Percent GDP Drop in 2020

According to the FIRJAN study, the sharp downturn in 2020 is the result of the impacts of the Coronavirus pandemic and the current economic, political and social scenario.

RIO DE JANEIRO, BRAZIL - On Thursday, June 4th, the Federation of Industries of the State of Rio de Janeiro (FIRJAN) released its projections, showing a 6.4 percent drop in the State's Gross Domestic Product (GDP) in 2020.

Should these projections be confirmed, this will be the worst result of a historical series that considers data released by the Brazilian Institute of Geography and Statistics (IBGE) since 2002, when the methodology was last changed.

The federation's estimates show that in the first quarter of the year there was a 0.6 percent drop compared to the same period . . .

To read the full NEWS and much more, Subscribe to our Premium Membership Plan. Already Subscribed?