Brazil: Industrial output bounces back in February
Industrial production rebounded in February, expanding 0.7% month-on-month in seasonally-adjusted terms, contrasting January’s 2.2% decline. Looking at the details of the release, February’s upturn was driven by all sub-sectors returning to growth from January’s broad-based decline.
On an annual basis, industrial production dropped at a more moderate pace of 4.3% in February (January: -7.2% yoy). Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at 2.6% in February, down from January’s 3.2%.