03/07/2024 – 9:19
Brazilian industrial production fell by 0.9% in May compared to the previous month, the Brazilian Institute of Geography and Statistics (IBGE) reported this Wednesday, the 3rd.
It was the second consecutive month of decline. With this result, the sector eliminated the 1.1% gain that had accumulated between February and March of this year.
Compared to May last year, production fell by 1.0%.
The result, however, was slightly less bad than expected. Expectations in a Reuters poll of economists were for a 1.7% drop in the monthly variation and 1.7% on an annual basis.
“The results for May led the industry to operate 1.4% below the pre-pandemic level, recorded in February 2020, and 17.8% below the highest level in the series, reached in May 2011,” highlighted the IBGE.
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