Compared with a year earlier , the figure grew 0.3%, well below the expected 1.3% growth. (Reporting by Peter Frontini; Editing by Steven Grattan)
(Adds more details on data, comment from survey manager)
SAO PAULO, March 30 (Reuters) - Industrial production in
Brazil fell 0.3% in January from the month before ,
government statistics agency IBGE said on Thursday, confirming a
negative trend amid high borrowing costs.
The data, which matches the median estimate in a Reuters
poll of economists, comes after a flat monthly figure in
December, when it interrupted two consecutive months of growth.
"Although industrial production showed some improvement in
behavior at the end of the year... 2023 starts with a loss in
production, and remains far from recovering the losses of the
recent past", said the survey manager, Andre Macedo in a
statement.
Industrial production is still 2.3% below the
pre-pandemic level, IBGE said.
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