Brazil Industry Breaks Four-Month Surge, Dropping 2.5%

Industrial production in Brazil fell 2.5% in July, in comparison with June. According to a note issued today by the Brazilian Institute of Geography and Statistics (IBGE), the decline interrupted a four-month sequence of expansion.

The Institute observes that the drop in this indicator was the largest since January, 2003, pushing the level of production back to a level only slightly higher than where it stood in April.

The IBGE study shows that the decrease in industrial production in July affected 20 of the 23 activities surveyed, with the most significant declines coming in automotive vehicles (-4.6%), electrical materials and communications equipment (-10.7%), and machinery and equipment (-5.7%).

Oil refining and alcohol production (2.6%), pharmaceuticals (4.2%), and cellulose and paper (1.7%) were the only sectors to grow in July, in relation to June.

Between January and July, domestic industrial production grew 4.3% overall, down from the 5.0% registered over the first six months of the year (between January and June).

In terms of the 12 preceding months, industry maintained its tendency to decelerate, going from 6.7% in June to 5.8% in July.

When compared with July, 2004, Brazilian industrial production was up 0.5%.



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