Brazil’s industrial production decreased at a faster-than-expected pace in October, figures from the statistical office IBGE showed Thursday.
Industrial output plunged 11.2 percent year-over-year in October, exceeding economists’ expectations for a 10.4 percent drop. In September, production had fallen 10.9 percent.
Production in the capital goods sector logged a decline of 32.6 percent in October from a year ago and output in the durable consumer goods sector dipped by 28.7 percent.
On a monthly basis, industrial production dropped 0.7 percent in October, slower than previous month’s 1.3 percent decrease. The expected rate of fall was 0.2 percent.
The material has been provided by InstaForex Company – www.instaforex.com
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