Global RAC Market Shrinks by 27% -- Brazil

Brazil was on the path of economic recovery at the beginning of 2020, with a gross domestic product (GDP) forecast to reach approximately 2.3%. Implementation of economic reforms was on the way, and the marked fall in the basic interest rate was driving expansion of credit. The civil construction sector, an important parameter in the heating, ventilation, air conditioning, and refrigeration (HVAC&R) sector, was recovering from the 2015 to 2016 crisis, and expansion of launches and shipments was forecast.