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Brazil’s Industry Records Worst Drop in Almost Five Years

  • Output falls more than forecast by 36 out of 39 economists
  • Production of capital goods rise 0.4 percent, however
Updated on

Brazil’s industrial output fell more than expected in August, eliminating gains recorded over the past five straight months and pointing to a long road to economic recovery.

Production fell 3.8 percent from July, more than the median forecast from 39 economists surveyed by Bloomberg for a 3.2 percent drop. It was the worst performance since January 2012. From a year earlier, industrial output fell 5.2 percent, the national statistics agency said Tuesday.