LatinNews Daily - 05 September 2022

In brief: Industrial production rises in Brazil

* Brazil’s national statistics institute (Ibge) has released the latest figures on industrial production in Brazil, which increased by 0.6% in July compared to the previous month. On a year-on-year comparison, the industrial sector’s output fell 0.5%. The sector is also 0.8% below its level in February 2020, before the onset of the coronavirus (Covid-19) pandemic, and 17.3% below the record production reached in May 2011. Ibge’s research manager André Machado pointed out that the institute registered monthly growth in five months from January to July. “The influence of the government’s stimulus measures helps to explain this improvement in the production pace,” Machado said.  By sector, the most significant monthly increases in production in July were in food products (4.3%), extractive industry (2.1%), and coke, petroleum & biofuels (2%).

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