Brasília – After having gone up 2% in June, Brazilian industry revenues slid again, by 4.2%, in July from the preceding month. In the seven months through July, revenues were down 12% from the comparable period in 2015, as per data made public this Thursday (1st) by the National Federation of Industry (CNI).
According to the CNI, other seasonally adjusted indicators of industry activity also dropped in July from June – seasonally adjusted meaning that period-specific fluctuations due to holidays or topical demand due to Christmas or Mother’s Day are taken into account.
Hours worked in industry were down 0.2% in July from June. Year-to-date through July, they were down 9.3%. Capacity utilization dropped to 76.9%, the lowest level since the CNI began keeping records in 1999. This means over 20% of industry capacity was idle in the month.
*Translated by Gabriel Pomerancblum
