Brazil’s industrial production drops 0.9% in May

Brazilian industrial production was down 0.9 percent in May compared to April—the second consecutive drop, pointing to a retraction of 1.7 percent in the two-month period. In the last 12 months, the growth reached 1.3 percent. The figures were unveiled Wednesday (Jul. 3) by statistics bureau IBGE.

The figures are part of the Monthly Industrial Survey, which also showed an increase of 2.5 percent in the first five months of 2024 compared to the same span last year.

A total of 16 of the 25 activities investigated are reported to have fallen in May 2024. Motor vehicles, trailers, and vehicle bodies (-11.7%) and food products (-4.0%) were the two biggest negative contributors to the overall result in May.

When comparing the first five months of 2024 and 2023, the main positive influences on the industry as a whole were food products (5.2%); coke; petroleum products and biofuels (3.1%); extractive industries (2.3%); and motor vehicles, trailers, and bodies (4.8%).