Market Commentary and Intraday News
Brazil August Industrial Output Drops More Than Expected
231 days ago
(RTTNews) - Brazil's industrial production decreased faster than economists expected in August, data released by statistical office IBGE showed Tuesday.
Industrial production declined 2 percent on an annual basis in August, slower than the 1.6 percent fall economists had forecast.
The biggest contribution to the year-on-year decline came from the capital goods industry, which recorded a 13 percent fall in output. Production in the intermediate goods industry and the consumer goods industry decreased by 0.5 percent and 0.2 percent respectively during the month.
On a monthly basis, industrial output increased 1.5 percent in August, while economists were looking for a 2 percent gain.
In the January-August period, production in the Brazilian industrial sector decreased 3.4 percent from the corresponding period a year earlier, data showed.
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