Brazil's industrial production declined slower than economists forecast in February, but at the fastest pace in more than two years, data from the statistical office IBGE showed Tuesday.
Industrial production declined 3.9 percent annually in February, slower than the 5.8 percent fall economists expected. Production declined for the sixth consecutive month in February. The latest fall in production is the biggest since September 2009, when production declined 7.6 percent annually.
Month-on-month, industrial production increased 1.3 percent in February, following a 1.5 percent fall in January. Economists had expected a 0.6 percent gain. The latest increase is the biggest since February 2011, when production advanced 2.2 percent.
In the first two months of 2012, industrial production dropped 3.4 percent from last year, the agency said.
by RTT Staff Writer
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