Brazil's industrial production decreased for the eighth consecutive month in April, data released by statistical office IBGE showed Thursday.
Industrial production decreased 2.9 percent on an annual basis in April, marking the eighth successive fall. Economists were looking for a 2.4 percent decrease. In March, the rate of fall was 1.9 percent.
Capital goods production fell 4.1 percent annually, contributing notably to the overall slump, while output of intermediate goods dropped 2 percent during the month. There was a 2.3 percent year-on-year decrease in the production of consumer goods.
On a monthly basis, industrial production decreased 0.2 percent in April, while economists expected output to remain unchanged. In the January-April period, production in Brazilian factories dropped 2.8 percent from the corresponding period a year earlier, data showed.
by RTT Staff Writer
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