The São Paulo State Civil Construction Industry Union (Sinduscon-SP) revised down the projection of growth in the construction sector in 2025. As a result, the entity’s estimate went from 3% to a 2.2% increase. 
The data, released on Thursday (21), are based on a survey of the Brazilian Institute of Economics of the Getúlio Vargas Foundation (FGV Ibre).
The new projection is an average of construction estimates of construction performance (2.5%) and informal activities such as self -construction and small contractors (1.5%).
According to the Vice President of Economics of Sinduscon-SP, Eduardo Zaidan, Brazil’s internal conjuncture has more weight in projection than the external scenario.
“We have a very high interest rate for a long time, and only now inflation is starting to give in, but it is still high, with interest penalizing families and companies,” he said.
Tariff
According to Sinduscon-SP, the potential impact of US tariffs on the Brazilian Gross Domestic Product (GDP) could reach 1.8 percentage points in the next two years.
However, considering compensation measures of the Brazilian government, search for new markets and contract revisions, impacts may be reduced to about 0.3 pp by 2025 and 0.5 pp in 2026.
