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LatinNews Daily - 03 June 2021

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In brief: Brazil’s industrial production shrinks in April

* Brazil’s national statistics institute (Ibge) has released the latest figures on the industrial sector, which show that industrial production shrank 1.3% in April compared with March. This is the third monthly contraction in industrial production, and brings production levels back below pre-coronavirus (Covid-19) pandemic levels. The Ibge’s André Macedo notes that growth in industrial production had already been slowing since the second half of last year. “With the start of 2021, the resurgence of the pandemic, and all the effects that this brings, the industrial sector showed a very evident decrease in its production pace. This is clear not only from the negative results, but also from the greater spread [across different activities] of this rate of decline,” Macedo said. In year-on-year terms, industrial production grew 34.7% compared with April 2020, when the partial shutdown of the economy due to the pandemic led to the biggest fall in industrial production on record.