LatinNews Daily - 03 August 2022

In brief: Industrial production falls in Brazil

* Brazil’s national statistics institute (Ibge) has released the latest figures on industrial production, which fell by 0.4% in June compared to the previous month, and by 0.5% year-on-year. The decline in June ended four consecutive months of rising production. Ibge noted that the industrial sector’s output remains 1.5% below its level in February 2020, before the onset of the coronavirus (Covid-19) pandemic, and 18.0% below the record production reached in May 2011. By sector, the most significant monthly drops in production were in pharmaceutical products (-14.1%), electronic goods (-2.8%) machinery (-2.0%), and products derived from oil and biofuels (-1.3%).

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