Brazilian industrial production closed the first two months of the year with a growth of 4,3% compared to the first two months of 2017, the best result for the period since 2011 (4,7%), the government reported on Tuesday.
According to data from the Brazilian Institute of Geography and Statistics (IBGE), industrial production grew by 0,2% in February compared to January, after having started the year with a 2,2% drop.
The IBGE report indicated that in February, industrial production increased by 2,8% compared to the same month in 2017, the tenth consecutive result in this comparison.
In the accumulated period over the last 12 months, Brazilian industrial production grew by 3%, the best result since June 2011 (3,6%)..
Despite the growth recorded in February, the result was lower than expected, indicating a slow recovery of the sector, one of the most affected by the serious economic crisis that Brazil experienced between 2015 and 2016, which caused the industry to have three negative years.
According to IBGE, The level of Brazilian factory production is still 15,1% below its historical maximum, observed in May 2011.
Between January and February of this year, the production of durable consumer goods increased, The automotive sector stood out (1,7%), while the consumer goods industry expanded by 1,2% and capital goods 0,1%.
On the other hand, intermediate goods (0,7%) and semi-durable consumer goods (0,6%) registered a decrease.
The segments that grew the most were perfumery, soaps, cleaning products and personal hygiene (4,4%).
In turn, motor vehicles, trailers and bodies increased by 0,9%, metal products by 3,1%, miscellaneous products by 7,4% and beverages by 1,8%.
On the other hand, extractive industries (5,2%), pharmaceutical and pharmaceutical products (8,1%) and food products (0,8%) decreased.
Source: Xinhua
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