Rio de Janeiro – Brazilian industrial production plummeted 8.3% in 2015, the biggest drop since records started being kept in 2003. Numbers released this Tuesday (02) by the Brazilian Institute of Geography and Statistics (IBGE) also show output slowing 0.7% in December from November and 11.9% in December from a year ago.
IBGE technicians reported that industry continued to slow down the rate of production, “proof of which is not only the seventh consecutive month-on-month drop (the longest sequence of downturns ever), but also the prevalence of negative rates in December, when output went down in most of the monitored industries.”
To convey the exact dimension of recession in industry, IBGE stressed the fact that after December of last year, industry is now 19.5% below the record output seen in June 2013.
*Translated by Gabriel Pomerancblum
