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14 Mar 2019, Radoslav Yordanov, EMIS Editor

Brazil’s industrial production down 2.6% y/y in January

Brazil’s industrial production fell 2.6% year-on-year in January, CEEMarketWatch reported citing figures released by the statistics office IBGE.

The decline was mainly explained by the weak performance of pharmaceutical sector (-22.5% y/y), machinery and equipment industry (-10.3% y/y) and food products (-4% y/y). Overall, the output decreased in 18 of the 26 sectors tracked by the statistics office.

Activity also fell in m/m terms, as 13 of the 26 industries tracked declined in January compared to December’s figures. Pharmaceuticals (-10.3% m/m), machinery and equipment (-2.9% m/m) and pulp and paper products (-2.6% m/m) decreased the most.

In terms of use, capital goods output plunged 7.7% y/y in January, while durable and intermediate goods fell 5.5% y/y and 1.3% y/y, respectively.

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