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Financial News: Brazil Industrial Production Rises For Second Month

Brazil Industrial Production Rises For Second Month

07/04/2017 - 08:40:00 (RTTNews)

(RTTNews) - Brazil's industrial production grew for a second consecutive month in May, led by vehicle manufacturing, figures from the statistical office IBGE showed Tuesday.

Industrial production rose 0.8 percent from April, when output grew 1.1 percent. In March, production fell 1.6 percent.

Of the 24 surveyed sub-sectors, 17 registered growth during May. The biggest gain was logged by automobile manufacturing, where production grew 9, which was the biggest rise since December 2016.

Despite the sustained growth, industrial production is still 18.5 percent below the record gain registered in June 2013, the IBGE said.

On a year-on-year basis, industrial production increased 4 percent in May, which IBGE said was the strongest gain since February 2014.

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