Rio de Janeiro – Brazilian industrial output grew 1.5% from January to February this year, not taking seasonal variations into account. The data, culled from the Monthly Industrial Survey – Physical Production Brazil (PIM-Brasil), are being disclosed by the Brazilian Institute for Geography and Statistics (IBGE) and indicate that there was growth of 18.4% compared with February 2009.
According to the IBGE, this is the third consecutive month with two-digit growth, "reflecting mainly the low basis of comparison stemming from the effects of the international economic crisis last year."
With the result, the industrial sector accumulates growth of 17.2% in the first two months of 2010. The annualized rate (accumulated result of the last 12 months) dropped by 2.6%, in keeping with the trend of reduction in the rate of decline.
The 18.4% growth rate recorded reflects expansion in 24 out of 27 fields surveyed by the IBGE. “There was growth in 72% of the 755 products surveyed, the highest rate ever since records started being kept, in January 2003, pointing to greater dynamism in the industrial sector, as well as a low basis of comparison,” according to the IBGE.
According to the institute, the highest growing activities were automotive vehicles (36.3%), machinery and equipment (42.3%), basic metallurgy (35.9%), other chemical products (26.7%), pharmaceutics (51.9%), metal products (44.5%) and extraction industries (20.3%).
The most relevant decline was that of other transportation equipment (-12.7%), due to low aircraft production.
*Translated by Gabriel Pomerancblum
