LatinNews Daily - 23 July 2026

*Brazil’s Confederação Nacional da Indústria (CNI), the national lobby group for the industrial sector, has released its latest quarterly economic report, which projected that Brazil’s GDP will grow by 2.0% in 2026 and the industrial sector will grow by 2.1%. Compared to the previous CNI report for the first quarter of this year, the overall annual GDP growth forecast remains unchanged, but the forecast for the industrial sector is up from the previous projection of 1.6%. According to the Q2 report, manufacturing is expected to grow by 0.6%, up from the 0.3% growth forecast from the Q1 report, while extractive industries is projected to register an annual growth rate of 9.1%, up from the previous 7.8% forecast. The growth projection was also raised for the construction sector, from 1.3% to 1.5% in the latest report. The significant improvement in the growth outlook for extractive industries was mainly driven by the “expansion of oil extraction, supported by the launch of operations of new wells, the increase in production capacity, and gains in operational efficiency” as well as the mining sector, particularly iron ore production.

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