Industrial output in Brazil plummeted in May at the sharpest pace in a decade, highlighting the deep impact of a nationwide truckers' strike in the final weeks of that month. Production fell 10.9% from April, government statistics agency IBGE said on Wednesday, the largest decline since December 2008.
Industrial output in Brazil rose for a second straight month in May, government data showed on Tuesday, underpinning hopes that the economy will not fall back into recession despite an escalating political crisis.
Brazil's industrial production plummeted in July and fell well below economists' worst predictions. Industry output sank 1.5% in July from June in seasonally adjusted terms and was down 8.9% from a year earlier, the Brazilian Institute of Geography and Statistics, or IBGE, said Wednesday. The IBGE also revised June's drop to 0.9% from 0.3% from the previous month.
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's industrial production dropped in February after a momentary uptick at the beginning of the year, as factories and mines braced for what economists say could be the country's worst year in more than two decades.