We’re covering Brazil’s latest industry figures. A proposal to fast-track mining projects. The coronavirus spread within the presidential cabinet. And a win for Lula against Sérgio Moro.
Understanding Brazil’s latest economic figures
Brazil’s industry grew 8.9 percent in June, following May’s 8.2-percent growth. But despite two very positive months, the truth is that Brazil’s industry remains far below its pre-pandemic level — which was already underwhelming. Brazil’s general industry index, compiled by the country’s official statistics agency, remains almost 25 percent below January 2010 levels.
- Industry performance is also 13.4 percent lower than February’s levels, and 10.9 percent down since January.
Reality check. The transportation sector posted 142-percent growth in June, which was a record for a single month. But that was mainly because vehicle production had all but halted in April and May.
Emergency salary boosted industry. The government’s BRL 600 emergency salary gave a huge boost to consumers and helped explain the 82.2-percent increase in sales of durable consumer goods in June. As yesterday’s Daily Briefing discussed, this aid program could have its days numbered, however, at least in its current form.
Industry: looking ahead. Brazil’s industrial Purchasing Managers’ Index rose 6 points to 58.2, the biggest on...