RIO DE JANEIRO: Industrial output in Brazil unexpectedly grew in April for the first time since December, government data showed on Friday, underpinning hopes of a gradual economic recovery.
Industrial production rose 0.6 percent in April from March after seasonal adjustments, government statistics agency IBGE said, compared with expectations for zero growth in a Reuters poll of economists.
IBGE also revised up March figures to show a smaller decline of 1.3 percent in output, down from an originally reported drop of 1.8 percent.
Brazilian manufacturers are slowly recovering from the country’s worst recession on record, aided by lower interest rates and a pick-up in exports. Economists expect output to rise 1.3 percent this year, recovering only part of last year’s 6.6 percent plunge, according to a weekly survey.
Brazil’s industry is operating at 2009 levels, 19.8 percent below its historical peak, IBGE economist Andr? Macedo said.
Output rose in 13 of the 24 industrial activities covered by IBGE, with pharmaceutical goods up 19.8 percent and automobile production up 3.4 percent from March.
Production of capital goods such as machinery, an indicator of investments, rose 1.5 percent, IBGE said.
