Brazil’s industrial production slows in September says Industries lobby
Brazil's industrial production slowed in September from August amid tight competition and a lack of demand, according to a survey released Tuesday by the country's National Confederation of Industries, or CNI.
The survey of 1,790 companies gave an overall reading for production of 47.1, compared with 54.7 in August and 49.1 in September of last year. Figures above 50 indicate expansion and below 50 indicate contraction.
Production capacity was also below the normal level for the month. The survey gave a reading of 43.8, with 50 indicating normal usage levels, down from 46.2 in August. Production capacity usage was 74%, unchanged from August.
The survey also contained some hints of good news. Industrial employment was almost unchanged, with a reading of 49.6, and inventory levels were unchanged, with a reading of 50.0.
Companies cited high taxes, strong competition and a lack of demand as their biggest problems, according to the survey.