Brazil’s industrial production fell by 4.5% y/y in 2020
The industrial production index (IPI) declined by 4.5% in 2020, after dropping by 1.1% in 2019
The recovery of industrial output in Brazil between September and December 2020 was not enough to offset the contraction for the whole year. The industrial production index (IPI) declined by 4.5% in 2020, after dropping by 1.1% in 2019, as the social distancing measures negatively impacted both demand and supply of industrial products and input.
According to the Brazilian Institute of Geography and Statistics, which provides the data, 20 of 26 segments registered a negative performance in 2020. In December 2020, however, the IPI grew by 8.3% y/y, as 19 of 26 segments improved.
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