Worker in a meat processing firm. Photo: Natalia Maksymenko/Shutterstock
Last week, the Brazilian Institute of Geography and Statistics (IBGE) reported 1.4-percent growth for Brazil’s industry in May. However, new data from the National Confederation of Industry (CNI) shows a reduction in working hours and lower industrial performance.
The CNA figures come with a caveat, that they are not seasonally adjusted to take into account different working and production conditions that occur throughout the year.
Working hours within industries dropped 1.8 percent in May compared to April. The use of installed capacity also dropped 0.3 percent from one month to the next, but remained above 80 percent.
On the whole, Brazil remains optimistic, due to several sectors — industry among them — returning to pre-pandemic levels. The Central Bank expects 4.6-percent GDP growth for 2021.
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