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São Paulo : Office Snapshot - Q4 2015

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Stagflation. High inflation combined with increased unemployment rates and economic downturn – all that made 2014 a worrisome year came true in 2015. In an attempt to rebalance the country’s economy in one year, the government undersized the negative impacts which necessary adjustments would do to an already weak economy.

Thus, what was supposed to be one year of economic recovery turned into three; and uncertainties - and risks - skyrocketed. GDP projections indicate that 2016 will be similar to the previous year: a volatile exchange rate, inflation rates expectations are deteriorating and a disbelief in fiscal adjustments hovers Brazil. The country need a credible and consistent medium-term plan that is impervious to the lava-jato political and legal unravels. While this does not occur, today's scenario tends to perpetuate. For now, our situation depicts growth and activity recovery starting in mid-2017.

Source : Cushman & Wakefield

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