Brazil Industrial Production Mom

Brazil's industrial production went down by 0.3% month-over-month in February 2024, following a revised 1.5% fall in the prior month and against market forecasts of a 0.3% rise. That marks the second consecutive month of downturn in industrial activity, resulting in a cumulative decline of 1.8%. Among the activities, the most significant negative influences were noted in chemicals (-3.5%), extractive industries (-0.9%), and pharmaceutical and pharmaceutical products (-6.0%). On the other hand, among the 13 activities that showed an increase in production, motor vehicles, trailers, and bodies (6.5%) and pulp, paper, and paper products (5.8%) stood out. Yearly, industrial production surged by 5% in February, after a revised 3.6% rise in January and missing market estimates of a 5.6% advance.