Economics
Evidence of a Brazilian Recession Seen in May's Industry Drop
- Industrial sector has declined in three months of 2019
- Growth has disappointed, recovery interrupted: Campos Neto
An employee works on the assembly line at an engine manufacturing facility in Brazil.
Photographer: Paulo Fridman/Bloomberg
This article is for subscribers only.
Signs that Latin America’s largest economy may be slipping into recession increased with the decline of industrial output in May.
Brazilian production fell 0.2% from April after a 0.3% increase a month earlier, the national statistics agency reported Tuesday. May output rose 7.1% from the same month a year ago, when production suffered the impact of a devastating trucker strike. It would take a very strong performance in June to stop the country’s industry from declining in the second quarter, said William Jackson, chief emerging markets economist at Capital Economics.