2023 economic results are positive, but challenges persist
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The economic results for the year 2023 were positive. Lower interest rates, notable growth in GDP – Gross Domestic Product – and reduced unemployment are some indicators of the improvement in the economy. However, challenges such as improving profit margins persist in the food away from home sector. This is the analysis of João Ricardo Tonin, economist at FoodCo.
The expectation is that the IPCA – Consumer Price Index – will remain in the range of 4.53%, the lowest result in two years. This decrease can be explained by the reduction in food prices, especially for domestic consumption, which had a reduction of 0.95% compared to 2022.
As for GDP, the year should close with growth of 2.84%, driven by the agricultural sector, which grew 13.7%. The services sector is around 2.1% and industry, 1.4%.
Tonin explains that family consumption should increase by 2.5%, driven by the increase in employment. The unemployment rate is expected to close the year at 7.7%, which represents a reduction of almost 50% compared to the pandemic period. For the economist, the reductions in the Selic rate – which should remain at 11.75% – indicate a trend towards an increase in the volume of credit.
Even with the positive economic results in 2023, the economist highlights that the usual difficulties continue. “Despite the positive scenario, some challenges persist, especially in the food away from home sector. Aspects such as improving the profit margin, reducing waste of inputs and maintaining a trained team with a low turnover rate are issues that must be addressed next year.”
The FoodCo Bulletin. with complete audio analysis by economist João Ricardo Tonin, it is exclusive weekly content for subscribers of the platform. The FoodCo. is the largest community of bar and restaurant owners in Brazil. There are more than 13 thousand entrepreneurs in the sector gathered in a knowledge and networking network, with access to essential content for those who undertake food away from home.
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