LatinNews Daily - 10 March 2022

In brief: Brazil’s industrial production slumps in January

* Brazil’s national statistics institute (Ibge) has released the latest figures on industrial production, which show that the sector shrank 2.4% in January compared with December, and 7.2% year-on-year. With this negative performance, the industrial sector is now 3.5% below its pre-coronavirus (Covid-19) pandemic levels, in February 2020. André Macedo, the research manager for the Ibge’s monthly survey of the industrial sector, notes that the sector has been affected by pandemic-related disruptions in the production chain, with higher production costs and difficulties to source primary materials. Macedo adds that high inflation and interest rates, as well as a high number of workers outside of the labour force, have also taken their toll on the industrial sector’s performance.

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