Brazil’s Industrial Output Tops Expectations as Omicron Wave Recedes

Brazil’s industry rose more than forecast, boosted by the receding of the omicron wave of coronavirus that had caused a surge in infections and kept workers at home

Brazil’s industry rose more than forecast.
By Andrew Rosati
April 01, 2022 | 08:51 AM

Bloomberg — Brazil’s industry rose more than forecast, boosted by the receding of the omicron wave of coronavirus that had caused a surge in infections and kept workers at home.

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Output rose 0.7% in February from the month prior, more than the 0.5% median estimate from analysts in a Bloomberg survey. From a year ago, production was down 4.3%, the national statistics agency reported on Friday.

Brazil's industrial output beats expectations in February

Brazil’s industry has been buffeted by shortages of foreign inputs and the lingering effects of Covid-19. Inflation, running at nearly 11%, and tight credit conditions are also sapping demand. Now, Russia’s invasion of Ukraine and the prospect of even higher borrowing costs are dragging further on growth.