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LatinNews Daily - 5 August 2024

In brief: Brazil’s industrial production up in June

*Brazil’s national statistics institute (Ibge) has released its latest figures for the country’s industrial production, showing a 4.1% monthly rise in production in June and 3.2% increase compared to June last year. This increase comes after two consecutive months in which the industrial sector registered monthly contractions. Of the 25 product categories measured, 16 saw a monthly rise in production. The greatest increases were registered in smoking products (19.8%), chemical products (6.5%), and metallurgy (5.0%). In a press release, the Ibge said that this was Brazil’s highest monthly rise since July 2020 but suggested that the low production figures in the preceding months provided a low benchmark for comparison. The Ibge also highlighted that industrial production was boosted by the resumption of activity in sectors directly or indirectly affected by the severe floods which devasted Rio Grande do Sul state in May.

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