Brazil's industrial output falls 0.3% in January
SAO PAULO, March 30 (Reuters) - Industrial production in
Brazil fell 0.3% in January from the month before,
government statistics agency IBGE said on Thursday, confirming a
negative trend amid high borrowing costs.
The data, which matches the median estimate in a Reuters
poll of economists, comes after a flat monthly figure in
December, when it interrupted two consecutive months of growth.
"Although industrial production showed some improvement in
behavior at the end of the year... 2023 starts with a loss in
production, and remains far from recovering the losses of the
recent past", said the survey manager, Andre Macedo in a
statement.
Industrial production is still 2.3% below the
pre-pandemic level, IBGE said.
Compared with a year earlier, the figure
grew 0.3%, well below the expected 1.3% growth.
(Reporting by Peter Frontini; Editing by Steven Grattan)
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