Brazil's industrial production falls 0.5% in April

Industrial output, however, up 8.4% on annual basis

By Ovunc Kutlu

ISTANBUL (AA) - Brazil’s industrial production fell 0.5% in April, compared to the previous month, according to official data released Wednesday.

The market expectation for the figure was to show a 0.3% increase, following a 0.9% gain in March.

The result came in despite three of the four major economic categories and 18 of the 25 industrial sectors surveyed showed expansion in production, the Institute of Geography and Statistics (IBGE) said in a statement.

The decline in industrial production was led by extractive industries, which fell 3.4%, and computer equipment and electronic products with a decline of 2.6%.

On an annual basis, however, industrial output was up 8.4% in April, compared to the same month in 2023, IBGE said in the statement.

The market expectation for the annual figure was to show a gain of 2.3%, after it declined 2.8% in March year-on-year.

The industrial sector grew 3.5% in the first four months of 2024.

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