*The Confederação Nacional da Indústria (CNI), a national lobby group for Brazil’s industrial sector, has released its figures for the sector’s productivity in the second quarter of this year, which showed a 0.3% drop from the first quarter. The CNI registered a quarterly increase of 0.9% in industrial production and a 1.3% increase in working hours for people employed in the sector. This follows a 1.4% quarterly decrease in productivity in the first quarter of the year. In contrast, in 2023 there were three consecutive quarterly rises in productivity. The CNI expects domestic demand for manufactured goods will continue to rise, which it says means that industrial production could increase. The lobby group also expressed optimism that the labour force of Brazil’s industrial sector could increase and improve the overall productivity figure.
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LatinNews Daily - 18 October 2024
In brief: Brazilian industrial lobby reports drop in productivity
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