Brazil's national statistics agency (IBGE) has reported that in May this year industrial production in the largest Latin American country rose by seven percent compared to April, following two consecutive month-on-month decreases, while it decreased by 21.9 percent from May 2019, recording the second highest year-on-year drop ever and declining for the seventh consecutive month year on year.
In the January-May period of this year, industrial production in Brazil was down by 11.2 percent on year-on-year basis.
According to the announcement, in May this year the production of intermediate goods manufacturers in Brazil increased by 5.2 percent, on month-on-month basis. In the same month, output of capital goods advanced by 28.7 percent and output of consumer goods rose by 14.5 percent, while durable consumer goods output was up by 92.5 percent and output of semi-durable and non-durable consumer goods improved by 8.4 percent, all compared to the previous month.
In May this year, Brazil's outputs of metal products and of motor vehicles, trailers and bodies were down by 25 percent and 74.5 percent, respectively, both on year-on-year basis. In the January-May period this year, Brazil's machine and equipment output fell by 16.3 percent, metal products output moved down by 13.3 percent and output of motor vehicles, trailers and bodies decreased by 42 percent, all compared to the same period of 2019.