Industrial production in Brazil drops 0.2% in May, says IBGE

Brazilian industrial production fell 0.2% in May compared to the previous month, reported the IBGE (Brazilian Institute of Geography and Statistics) this Friday (3).

Compared to the same month last year, production increased 0.2%.

Expectations in a Reuters survey of economists were for increases of 0.3% on a monthly basis and 1.3% on an annual basis.

*Updating

Source: CNN