Brazil Industrial Production Falls Again in Latest Blow to Lula
- Industry declined 0.2% on month, 2.4% on year in February
- Chemical products, food were major drags on the month
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Brazil’s industrial output slid in February on a decline in chemical products and food, dragged down by expensive borrowing costs and weakening demand in the latest worrying sign for the economy.
Production fell 0.2% from the month prior, matching the median forecast from analysts surveyed by Bloomberg. From a year ago, industry dropped 2.4%, the national statistics institute reported on Wednesday.