RIO DE JANEIRO, BRAZIL - Brazilian industrial production grew 3.9% in 2021 compared to 2020, according to the Monthly Industrial Survey - Physical Production (PIM-PF) released Wednesday (02) by the Brazilian Institute of Geography and Statistics (IBGE).
However, the increase in 2021 does not offset the decline of 4.5% in 2020. It is the first year of expansion after two consecutive declines (1.1% in 2019 and 4.5% in 2020). The sector is 0.9% below the February 2020 level before the pandemic.
The performance reflects 2021 characterized by month-over-month production declines in eight of the . . .
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