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Economics

Brazil’s Industrial Output Tops Expectations as Omicron Wave Recedes

  • Industry rose 0.7% m/m, fell 4.3% y/y in Feb.: stats agency
  • Extractive industries, food output drove monthly increase

Brazil’s industry rose more than forecast, boosted by the receding of the omicron wave of coronavirus that had caused a surge in infections and kept workers at home.

Output rose 0.7% in February from the month prior, more than the 0.5% median estimate from analysts in a Bloomberg survey. From a year ago, production was down 4.3%, the national statistics agency reported on Friday.