LatinNews Daily - 07 October 2020

* Brazil’s Confederação Nacional da Indústria (CNI), a private sector lobby, has released its latest indicators on the industrial sector, all of which registered a positive variation in August. In particular, the industrial sector’s real earnings increased by 2.3% compared with July, and by 3.6% year-on-year, to reach levels not seen since the start of 2020, before the coronavirus (Covid-19) pandemic hit. Compared with April, when the industrial sector felt the worst of the pandemic’s effects, its real earnings in August were up 37.8%. However, as evidenced in the national statistics institute’s (Ibge) measure of industrial production, this has been insufficient to make up for the hit felt in March and April, with the industrial sector’s real earnings for January-August coming in 3.9% below those recorded over the same period last year. The CNI notes that other sector indicators, including hours worked, employment in the sector, and the utilisation of installed capacity, all saw improvement in August, although they remain below pre-pandemic levels.

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