Brazil's industrial production falls 0.9% in May

ISTANBUL

Brazil’s industrial production fell 0.9% in May, compared to the previous month, marking a decline for the second consecutive month, according to official data released Wednesday.

The April figure, meanwhile, was revised down to a decline of 0.8% from a decrease of 0.5%.

The result came as four major economic categories and 16 of the 25 industrial sectors surveyed showed contraction in production, the Institute of Geography and Statistics (IBGE) said in a statement.

On an annual basis industrial output was down 1% in May, compared to the same month in 2023, IBGE said in the statement.

In April, industrial production increased 8.4% year-on-year.

The industrial sector grew 2.5% in the first four months of 2024, said IBGE.