Brazil Industrial Output Unexpectedly Falls 0.1%

(RTTNews) - Brazil's industrial production decreased slightly in February, preliminary data from the statistical office IBGE showed on Wednesday.

Industrial production dropped 0.1 percent month-on-month in February after remaining flat in the previous month. Meanwhile, economists had expected an increase of 0.5 percent.

Among the activities, the most important negative influence was recorded by the pharmaceutical and chemical products sector with a 12.3 percent decline. Output produced in the machinery and equipment industry contracted 2.7 percent, and that of wood products plunged by 8.6 percent.

On the other hand, extractive industries logged a 2.7 percent growth in production, and food production logged an increase of 1.7 percent.

On a yearly basis, industrial production advanced 1.5 percent versus an expected increase of 2.3 percent.