Brazil’s industrial production rose in February on the back of increased iron ore output

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By Jeffrey T. Lewis

SAO PAULO — Brazil’s industrial output rose in February from the same month in 2021 after mining output resumed after a decline in January.

Production rose 0.7% seasonally adjusted in February and fell 4.3% from a year earlier, the Brazilian Institute of Geography and Statistics, or IBGE, said Friday. In January, production fell a revised 2.2% in the month and was down 7.2% from a year earlier.

Brazil’s rainy January weather often hampers iron ore production, and this year there has been more rainfall than normal, according to the IBGE.

“The extractive sector experienced a significant drop in January due to the greater volume of rains” in the Brazilian state of Minas Gerais, said André Macedo, head of the industrial production series at IBGE. “When the rain returned to normal, production returned to normal” in February.

Extractive industries output, including mining and oil production, rose 5.3% in the month after falling 5.2% in January, according to the IBGE. Food production rose 2.4% during the month, the agency said.

Output rose in all major categories measured, with production of capital goods up 1.9% in February from January, production of intermediate goods up 1.6%, production of goods consumption up 0.3% and production of durable goods up 0.5%, said the IBGE.

Write to Jeffrey T. Lewis at [email protected]


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