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LatinNews Regional Monitor: Brazil & Southern Cone - 3 April 2019

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In brief: Brazil

* According to Brazil’s national statistics institute (IBGE), industrial production increased by 0.7% in February with respect to January, interrupting three consecutive months of decline in industrial production. Industrial production fell by 0.2% in January-February. In the last 12 months, the accumulated growth in the sector totalled 0.5%, a result identical to that of the previous year. The 0.7% increase in industrial activity in February reflects the growth in production of vehicles (6.7%), food products (3.2%), and petroleum products and biofuels (4.3%), among other activities. On the other hand, among the ten declining industrial sectors contributing towards the overall 0.2% reduction in the first two months of 2019, IBGE highlighted the extractive industries sector which decreased 14.8%, due in large part to the drop in iron ore production following the rupture of a tailings dam in Brumadinho, Minas Gerais state, in January.