New Signs of Brazilian Industry’s Contraction

Industrial production in Brazil dropped 2% in September, compared with August. In comparison with September, 2004, there was growth, but of only 0.2%, the smallest since September, 2003.

These data come from the Monthly Industrial Survey released Wednesday, November 9, by the Brazilian Institute of Geography and Statistics (IBGE).

Between January and September, the industrial sector grew 3.8%, while the reading for the 12 preceding months shows a deceleration in relation to August, from 5.1% to 4.4%.

The index for the third quarter of 2005 was 1.5% higher than for the third quarter of 2004 but 0.7% lower than for the second quarter of this year (April-June).

For the manager of the survey in the IBGE, Isabella Nunes, September’s results reinforce the signs of deceleration in the pace of industrial activity.

The 2% drop in production compared with August, according to Nunes, "had been anticipated, since sales exhibited negative rates during the past three months, especially of automobiles, home appliances, and electro-electronic products, which make up the durable consumer goods segment."



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