BRASILIA: Brazilian industrial output likely continued to drop in October but probably at a slightly slower pace than in the previous month, a Reuters poll showed on Monday.
Brazil's industrial production likely fell 10.3 percent from October 2014, compared to a decline of 10.9 percent in September, according to the median of 16 estimates ranging from -9.3 percent to -12.0 percent.
Output probably fell a seasonally adjusted 0.2 percent from September, improving from a contraction of 1.3 percent in the previous month, according to the median of 21 forecasts. Estimates ranged from +0.6 percent to -1.6 percent.
October's industrial data will be published on Thursday by statistics agency IBGE, at 9 a.m. local time (1100 GMT).
Brazil's industrial output has plummeted to 2009 levels as the economy sinks into one of its worst recessions on record. More than 1 million people have lost their jobs in the past year, reducing consumer demand for manufactured goods.
"There is no turnaround in sight yet. Despite the ongoing strong downward adjustment in manufacturing output, inventories remain high," said Luciano Rostagno, chief strategist at Banco Mizuho, in Sao Paulo.
The Brazilian economy is widely expected to shrink by about 3 percent this year and about 2 percent in 2016, in the longest downturn for the South American country since the 1930s.
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