Economics
Brazil Industry Drop Signals Recession Deepened at Year-End
- Output fell 2.4% in November from the previous month
- Forecasts ranged from monthly gain of 0.8% to a drop of 2.1%
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Brazil’s industrial production fell more than all analyst forecasts in November, underscoring the challenge that policy makers face in pulling Latin America’s largest economy out of its worst slump in decades.
Output in November decreased 2.4 percent from the previous month after a revised 0.6 percent decline in October, the national statistics agency said Thursday. The biggest slip since December 2013 was more than twice than the median 1 percent drop in a Bloomberg survey of analysts. From a year earlier, industrial production fell 12.4 percent, and hasn’t registered year-on-year growth since the first half of 2014.