Brazil's industrial output contracts 0.6% in April

ISTANBUL

Brazil’s industrial production contracted 0.6% in April, compared to the previous month, according to data released Friday.

The figure came against the market expectation of a 0.8% increase, after posting a 1.1% rise in March.

Computer equipment, electronic and optical products posted a monthly decline of 9.4%, while the output of machines and equipment plummeted 9.9%.

Petroleum products and biofuels, on the other hand, showed a gain of 3.6%, according to the country’s Institute of Geography and Statistics (IBGE).

On an annual basis, industrial production decreased 2.7% in April.

The market expectation for the annual figure was an increase of 0.4%, after expanding 0.9% in March year-on-year.