The Brazilian statistics agency “IBGE” said that Brazil’s industrial output rose by 0.3% in May, though not enough to fully offset losses seen a month earlier.
During the first five months of the year, the Brazilian industry was still down by 0.4%, which confirms its uneven results.
Brazil’s industrial output in May also remained below pre-Corona pandemic levels.
Rates are currently at a cycle high of 13.75%, amid hints from the Brazilian central bank that cuts may occur in August if the inflation scenario continues to improve.
However, the monthly increase in industrial production came against the background of a rise in the production of capital and durable goods, according to the International Statistical Institute.
The Brazilian statistics agency confirmed that the forecast for the rest of the year looks stronger than the first half.
