Brazil Industrial Output Stagnates In January

(RTTNews) - Brazil's industrial production remained flat in January after falling in the previous three months, preliminary data from the statistical office IBGE showed on Tuesday.

Industrial production was flat in January, following a 0.3 percent fall in December. Meanwhile, economists had expected a rebound of 0.4 percent.

Among the activities, the most important positive influences were recorded by machinery and equipment with 6.9 percent growth and motor vehicles, trailers, and bodies by 3.0 percent.

On the other hand, extractive industries logged a 2.4 percent reduction in production, and negative contributions also came from the sectors of coke, petroleum products and biofuels, pulp, paper and paper products, and manufacturing of clothing and accessories.

On a yearly basis, industrial production grew at a stable rate of 1.4 percent in January, slower than the expected increase of 2.2 percent.