Boston, MA -- (SBWIRE) -- 08/01/2013 -- Metals consumption growth in Brazil will be driven by the automotives, construction and infrastructure sectors as investment under Brazil's Growth Acceleration Programme is ramped up throughout 2013 and 2014. We highlight preparations to host the 2014 FIFA World Cup and the 2016 Olympic Games in Rio de Janeiro. We foresee strong metals demand growth on the back of our forecast for 3.7% economic growth on average per annum from 2013 to 2017.

Consumption To Exceed Production

We believe metals demand will remain strong. After a disappointing 2012, in which overall economic growth slowed and fixed asset investment stalled, we see activity picking up in 2013. We believe the government will maintain fiscal stimulus policies, namely tax cuts and spending, in the coming quarters. However, with inflation remaining near the upper limit of the central bank's tolerance band, and likely to continue weighing on private consumption in the coming months, and infrastructure projects still facing some delays, we recently revised down our 2013 and 2014 real GDP growth forecasts to 2.6% and 3.0% respectively. We forecast construction and infrastructure industry value to average 4.9% and 5.3% growth, respectively, over the 2013-2017 period. Although automotive production will not rise as quickly, we still forecast production to grow an average of 3.4% a year during our forecast period.

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