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LatinNews Daily - 05 February 2020

In brief: Brazil industrial output down in 2019

* Brazil’s national statistics institute (Ibge) has released the latest data for industrial production, which shows that Brazil’s industrial output fell by 0.7% in December 2019 compared with the previous month and by 1.2% year-on-year. Overall, industrial production fell by 0.6% in the fourth quarter of 2019, and closed the year with an annual 1.1% decrease, after recording two consecutive expansions in 2017 and 2018. André Macedo, the coordinator of the Ibge’s report, notes that the sector particularly suffered from the collapse of a tailings dam in Brumadinho, Minas Gerais state in January 2019, which drove negative results in the extractive sector throughout the rest of the year. If the extractive sector were taken out of the calculations, Brazil’s industrial output would have increased by 0.2% last year.

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