Tue, 26 Jan 2021

RIO DE JANEIRO, Dec. 2 (Xinhua) -- Brazil's industrial production grew 1.1 percent in October compared to September, marking the sixth month in a row of growth after contracting sharply due to the novel coronavirus (COVID-19) pandemic, the state-run Brazilian Institute of Geography and Statistics (IBGE) said on Wednesday.

Compared to October 2019, industrial production expanded 0.3 percent, according to the IBGE.

Brazilian industry began to show signs of recovery in May, when production spiked by 39 percent.

So far this year, however, industrial production has accumulated a decline of 6.3 percent, while in the 12 months ending in October, the accumulated drop reached 5.6 percent.

"Even with the positive performance of recent months, the industrial sector is still 14.9 percent below the record level reached in May 2011," said the IBGE.

This rebound will not prevent Brazil's gross domestic product (GDP) from ending 2020 with a 4.5 percent contraction, according to financial market projections.

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