Brazil's industrial production decreased more than economists expected in January, data released by statistical office IBGE showed Wednesday.
Industrial production decreased 3.4 percent on an annual basis in January, markedly faster than the 1.4 percent fall economists forecast. The latest was the fifth consecutive decline in output.
Output of capital goods dropped 13 percent annually during the month, while durable consumer goods production fell 7.6 percent. There was a 3.6 percent annual decrease in intermediate goods production.
Month-on-month, industrial output decreased 2.1 percent in January, while economists were looking for a 0.8 percent fall.
by RTT Staff Writer
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