World Economy
0

Brazil Factory Output Shrinks

Brazil Factory Output ShrinksBrazil Factory Output Shrinks

Industrial output in Brazil shrank at the steepest rate in seven months in March, a bigger-than-expected decline highlighting uncertainty about a long-awaited economic recovery despite a string of interest rate cuts. Industrial production fell 1.8% from February, government statistics agency IBGE said on Wednesday. The median forecast of economists in a Reuters poll predicted a decline of 1%. Industrial output has returned to 2009 levels as the country plunged into its deepest recession ever, driving up unemployment and adding to discontent ahead of next year’s wide-open presidential election. Output fell in 15 out of the 24 industrial sectors surveyed by IBGE, including automakers, pharmaceutical companies and oil refineries.

 

Add new comment

Read our comment policy before posting your viewpoints

Financialtribune.com