Industrial production fell 1,4% in June, says IBGE.
The result marks the fourth consecutive month of contraction and the worst result of the year, according to data from the Brazilian Institute of Geography and Statistics released this Friday; compared to a year earlier, production registered a drop of 6,9%.
RIO DE JANEIRO (Reuters) Brazilian industrial production fell 1,4 percent in June compared to May, marking the fourth consecutive month of contraction and the worst result of the year, the Brazilian Institute of Geography and Statistics (IBGE) reported on Friday.
Compared to the previous year, production fell by 6,9 percent.
The results, however, came in better than expected in a Reuters poll of 28 analysts, who had predicted a 2,25 percent decline in industrial production in June compared to May, with estimates ranging from a 1 to 4 percent drop.
In the year-on-year comparison, the estimate was for a loss of 7,65 percent in the median of 26 projections, which ranged from a decline of 4 to 9,4 percent.
(Reporting by Rodrigo Viga Gaier and Felipe Pontes)