Brazil Industrial Output Falls for Second Straight Month
- Production fell 0.9% in May from April, 1% from previous year
- Central bankers held interest rates steady at 10.5% last month
Haul trucks move iron ore at the Vale N4W mine in Parauapebas, Para state, Brazil.
Photographer: Dado Galdieri/BloombergThis article is for subscribers only.
Brazil’s industrial output fell in May for a second straight month as central bankers signal they are in no rush to resume rate cuts, and tight credit conditions are likely to persist.
Production fell 0.9% from the month prior, less than the median forecast for a decline of 1.4% in a Bloomberg survey of analysts. The monthly contraction recorded in April was revised to -0.8%. From a year earlier, industry fell 1%, the national statistics agency reported on Wednesday.