Brazilian industrial production shows small increase in May

Thursday, 07 July 2022 23:31:06 (GMT+3)   |   Sao Paulo
       

The Brazilian industrial production increased by 0.3 percent from April to May, according to the statistics institute IBGE.

The increase frustrated analysts, in that were expecting an uptick of 0.5 percent.

From May 2021 the increase was 0.5 percent, while for the January-May period there was a decrease of 2.6 percent.

According to IBGE, the index in May was positively affected by the sectors of machinery and equipment, automotive, food and electric appliances, while the negative impact came from the mining activities, chiefly iron ore, and chemical products.

The steel industry has also played a negative role, with reduced production of HRC, CRC, wire rod, rebar and tinplate.


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