Brazil industry ‘on the up’
Brazilian industry is on the up, according to experts, as output rose from January to February, suggesting that the worst of the financial difficulties may be over for the country.
The automotive sector saw a 9.2 per cent rise in production levels in the second month of the year, Brazil’s vehicle-makers association, Anfavea reported.
In addition, industrial output increased by 1.8 per cent, the Brazilian Institute of Geography and Statistics said.
However, this was down by 17.2 per cent compared to the same period last year, suggesting that the country has not been able to remain entirely immune to the effects of the global financial crisis, despite the reported strength of its fiscal system.
Recently, Paulo Wrobel, representative from the economic and trade sector of the Brazilian embassy, said the Brazilian automotive sector is recovering due to the government’s implementation of tax reliefs for consumers.
He asserted that there were signs of improvement generally in the country’s industries in January and February.
