Brazil’s industrial production shows recovery signs

September 13th, 2012 - 2:03 pm ICT by IANS  

Rio de Janeiro, Sep 13 (IANS) Brazil’s industrial production is showing signs of recovery, central bank President Alexandre Tombini said.

At a public Senate hearing Wednesday, Tombini said that now Brazil has a more favourable environment for the recuperation of industrial output, which had suffered falls for months and recovered a little in June and July, reported Xinhua.

Tombini said that “the stocks of the industrial sector are now higher, as are the production output and the utilization of the industrial capacity”.

The official added that the industrialists’ confidence has risen and the industrial employment increased recently.

The economic conditions are improving gradually, he said, adding that a stronger economic activity in the second half of 2012 and in 2013 is expected.

In the first half of 2012, Brazil’s GDP grew 0.6 percent year on year. The industrial sector, however, registered a contraction of 1.2 percent in the period. In the second quarter of 2012, the industry’s GDP fell 2.5 percent from the previous quarter and 2.4 percent year on year.

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