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Financial News: Brazil Industrial Production Falls 1.6%

Brazil Industrial Production Falls 1.6%

03/06/2024 - 09:33:00 (RTTNews)

(RTTNews) - Brazil's industrial production contracted in January after expanding in the previous two months, preliminary data from the statistical office IBGE showed on Wednesday.

Industrial production dropped 1.6 percent monthly in January, reversing a revised 1.6 percent growth in December.

Among the activities, mining and quarrying industries showed a decline of 6.3 percent, and food products output was 5.0 percent lower compared with the previous month.

On a yearly basis, industrial production grew 3.6 percent in January, faster than the 1.0 percent increase in the prior month. That was above the expected gain of 2.8 percent.

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