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LatinNews Daily - 11 May 2021

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In brief: Brazil’s industrial sector picks up in March

* The Confederação Nacional das Indústrias (CNI), a business lobby in Brazil, has released the latest figures from its monthly survey of the industrial sector, according to which the sector’s revenues grew 2.2% in March compared with the previous month, recovering over half of the 3.6% drop it suffered in February. “The March data partially revert the February losses and maintains industrial activity at a level above the pre-[coronavirus] pandemic”Marcelo Azevedo, the CNI’s manager of economic analysis, says. In year-on-year terms, the industrial sector’s growth is “significant” given the fact that activity was virtually paralysed in March 2020 with the onset of the pandemic. Other indicators for the industrial sector, such as hours worked, employment, and the wage bill, also grew in March compared with February.