BRASILIA: Industrial production in Brazil grew 0.3 percent in 2011, sharply lower than the 10.5 percent surge in the previous year, the Brazilian Institute of Geography and Statistics (IBGE) said Tuesday.
In December, industrial output was up 0.9 percent from the previous month, but down 1.2 percent compared with December 2010.
The positive 2011 result was mainly due to 1.7 percent growth in the first half of the year while the second half registered a slowdown of 1 percent.
Best performing sectors were autos (up 2.4 percent), transport equipment (up 8 percent) and mining industries (up 2.1 percent) while those which fared poorly included textiles (down 14.9 percent), shoes and leather products (down 10.4 percent), machinery and electrical goods (down 3.7 percent) and chemicals (down 2.1 percent).
The National Confederation of Industry (CNI) said the slower industrial growth was essentially due to the global economic crisis and the appreciation of the real against the dollar.
Comments
Comments are closed for this article.