Brazil’s industrial output plunged by 4.5% last year as the coronavirus pandemic battered Latin America’s largest economy, particularly the auto and clothing industries, the national statistics institute reported on Tuesday.
Brazil's industrial production rose for the seventh consecutive month in November, boosted by the output of motor vehicles and clothing. Production rose a seasonally adjusted 1.2% in November and increased 2.8% from the same month a year earlier, the Brazilian Institute of Geography and Statistics, or IBGE, said on Friday.
Industrial production in Brazil rose 7% in May, official figures showed on Thursday, the second-biggest monthly increase ever as activity started to pick up following two months of stricter lockdowns to curb the spread of the novel coronavirus.
Brazil’s economy rebounded strongly in the second quarter after having shrunk in the first, official figures showed on Thursday, indicating Latin America’s largest economy comfortably avoided falling back into recession.
Argentina industrial production plummeted 13.3% in October 2018 after plunging 6.8% in the previous month. It was the seventh straight drop and the sharpest decline since June 2002, as all categories fell excluding tobacco (+1.5%) and basic metals (+4.1%).
The industrial production in Argentina dropped 4.8% in October compared to the same period a year ago, accumulating a seven-month consecutive slide, according to the Center of Economic Studies from Orlando Ferreres. Between January and October manufacturing activity registers a 3.5% contraction relative to the same period in 2017.
A private report revealed that industrial activity in Argentina dropped 6.1% in October compared to the same period last year, as the manufacturing sector continues to contract pushed by big drops in the auto industry.
Argentine industrial output fell 2.3% in August compared to a year ago and 2.8% in the last twelve months in non seasonally adjusted terms according to a report from the Ministry of Economy.
Boosted by auto and metal-mechanic manufacturing industrial production in Argentina during June increased 3.8% compared to the same month a year ago, according to the latest release from Indec. Since April and May were also positive this means that the second quarter was up 3.5% over a year ago.
Argentina's industrial production started the year with a modest improvement rising 0.2% in January from a year earlier after output shrank 1.2% in 2012 as a whole, government data showed. Factory output rose 0.6% in January compared with December, seasonally adjusted.