Brazil's industrial production rises 0.3% in May

On annual basis, industrial output expands 1.9%

By Ovunc Kutlu

ISTANBUL (AA) - Brazil’s industrial production rose 0.3% in May, compared to the previous month, according to data released Tuesday.

The figure came in line with market expectation, after contracting 0.6% in April.

Petroleum products and biofuels posted a monthly increase of 7.7%, while machines and equipment rose 12.3%, the country’s Institute of Geography and Statistics (IBGE) said in a statement.

Despite the recent monthly gain, however, the industrial sector is 1.5% below the pre-pandemic level in February 2020 and 18.1% below the record level recorded in May 2011, according to IBGE.

On an annual basis, industrial output expanded 1.9% in May, compared to the same month of last year.

The market expectation for the annual figure was an increase of 1.1%, after falling 2.7% in April year-on-year.

Kaynak:

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