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Montevideo, November 20th 2017 - 19:23 UTC

Brazil's industrial production continues to skid, 4,7% in twelve months

Thursday, May 7th 2015 - 06:08 UTC
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“With the March 2015 result, industrial production is 11.2% below the record level reached in June 2013,” the national statistical institute IBGE said. “With the March 2015 result, industrial production is 11.2% below the record level reached in June 2013,” the national statistical institute IBGE said.
The local currency, the Real, has also plunged, losing around a fifth of its value against the dollar this year. The local currency, the Real, has also plunged, losing around a fifth of its value against the dollar this year.

Brazil's industrial production has dropped 4.7% in the last twelve months after slipping in March by 0.8% amid a sharp downturn in the country's economy, official figures showed Wednesday.

 Brazil is enduring a fifth straight year of low growth -- last year saw GDP grow by just 0.1 percent and this year is set to see a contraction of around 1.0 percent, the Central Bank and International Monetary Fund agree. The seasonally-adjusted decline for the first quarter of the year was 5.9%.

“With the March 2015 result, industrial production is 11.2% below the record level reached in June 2013,” the national statistical institute IBGE said.

February saw industry contract 1.3% -- revised from an initial fall of 0.9% -- with vehicle production sliding 4.7% while machinery was down 3.8% and capital goods by 4.4%.

Durables slid 3.1% and consumer goods 1.1%, the figures showed in fresh negative data for a government already rocked by rising inflation, joblessness and interest rates as well as a huge graft scandal at state oil firm Petrobras.

The local currency, the Real, has also plunged, losing around a fifth of its value against the dollar this year.

National statistical institute IBGE figures for February had shown a 9.1% output drop over the same month in 2014 for the biggest inter-annual fall in six years. The institute indicated all major sectors of the economy had seen a drop in production.

The industrial production index has been negative for 13 straight months: -3.5% in March, compared with forecasts of -3.0 percent, albeit better than February's slump with that month's showing partially influenced by having fewer working days.

Categories: Economy, Brazil.

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  • ChrisR

    “Brazil is enduring a fifth straight year of low growth -- last year saw GDP grow by just 0.1 percent and this year is set to see a contraction of around 1.0 percent, the Central Bank and International Monetary Fund agree. The seasonally-adjusted decline for the first quarter of the year was 5.9%.”

    Where's Brasso?

    He can put the lie to this devastating story.

    Cue a military video of some Brazilian crap being 'threatening”.

    I told you DumbAss Dilma and The Liar Mantega fucking Mr. Market would all end in ters AND now you have the 'little matter' of the CORRUPTION!

    HA, HA, HA, HA.

    May 07th, 2015 - 08:06 pm 0
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