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LatinNews Daily - 03 July 2020

In brief: Brazil’s monthly industrial production picks up

* Brazil’s national statistics institute (Ibge) has released the latest figures on industrial production in the country, which show an improvement in May after the sector suffered its most significant fall on record in April. Industrial production grew 7% month-on-month in May, reflecting “the increase in the production pace” with the easing of lockdowns implemented to contain the coronavirus (Covid-19), which paralysed production plants in late March and April. However, this monthly improvement has not eliminated losses accumulated after two consecutive months of negative results, with industrial production plunging 21.7% year-on-year in May, and accumulating a negative performance of 11.2% in the first five months of 2020.

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