RIO DE JANEIRO, BRAZIL - The IBGE (Brazilian Institute of Geography and Statistics) announced that industrial production rose 0.3% in May compared to April. The result was slightly below market forecasts, which had expected growth of up to 0.7% for the month. This was the fourth consecutive positive result for the sector.
The institute released the report on Tuesday (5).
Despite the growth for the fourth consecutive month, the sector has not recovered from the 1.9% decline recorded in January.
The industry's economic activity is below pre-pandemic levels (Covid-19). It recovered in September 2020 but . . .
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