Brazilian industrial production grew by 0.3 percent in March from February, new data from the country’s official statistics agency shows. While monthly growth results came in above market expectations, the sector has shrunk by 2.1 percent year on year.
Industrial growth has lost pace since August, with few bright spots. Capital goods accounted for the best-performing segment, rising by 4.4 percent year-on-year in March and 8 percent on a monthly basis.
The semi-durable and non-durable goods segment, however, fell 3.3 percent from February and 1.2 percent from March 2021.