Brasília - The National Industrial Confederation (CNI) has raised its forecast for sector growth this year to 6%. At the beginning of the year, the CNI forecast was 4.5%. It rose to 5% last month and has risen again now.

"It is the rhythm of increased production and employment over the last few months that allows us to forecast growth of 6%," declared Armando Monteiro, the CNI president.

Monteiro admitted there was inflationary pressure which could cause a rise in interest rates. But he said that was undesirable because it would affect growth.

Agência Brasil
Reporter: Nádia Faggiani
Translator: Allen Bennett
08/04/2004