Brazil's Industrial Output Fell 2.4% in January Vs. December
By Jeffrey T. Lewis
SÃO PAULO--Brazil's industrial output fell a seasonally adjusted 2.4% in January from the previous month as production of durable goods dropped.
Output rose 5.7% in January from a year earlier, the Brazilian Institute of Geography and Statistics, or IBGE, said Tuesday. Production of durable goods fell 7.1% in the month compared with December 2017, and output of intermediate goods declined 2.4%.
Compared with a year earlier, durable goods production jumped 20% in January, and output of intermediate goods rose 4.2%, the agency said.
Brazil's economy expanded 1% in 2017, the first year of growth after a two-year contraction, with help from the country's recovering industrial sector. Economists are forecasting economic growth of 2.9% for this year, according to a survey by the country's central bank.
Write to Jeffrey T. Lewis at email@example.com
(END) Dow Jones Newswires
March 06, 2018 07:31 ET (12:31 GMT)Copyright (c) 2018 Dow Jones & Company, Inc.