Brazil’s industrial output rose by 0.4pc in February annually due to the higher demand for machinery and equipment, metallic and steel products.
Machinery and equipment demand climbed by 18.5pc in February annually, metallic products rose by 10.6pc and the demand for steel products increased by 5.1pc year-on-year in February, the Brazilian statistics agency (IBGE) said in a statement without disclosing volume.
On a monthly basis, Brazilian industrial production fell by 0.7pc in February compared to January, due to a decline in the demand for vehicles at 7.2pc and the demand for mining products went down by 4.7pc in the same period.
Brazilian car production fell by 3.1pc to 197,035 units in February, from 204,206 cars produced in the same month the prior year, according to the country’s Association of Motor Vehicle Manufacturers (Anfavea)
Brazil’s crude steel output rose by 3.8pc to 2.8mn mt in February, from 2.7mn mt produced in February 2020, according to figures from Iabr.