2023-07-04 23:40:49
© Reuters. Fiesp maintains projection of 0.5% drop in industrial production in 2023, affected by high interest rates
Despite the recent advance in , the Federation of Industries of the State of São Paulo (Fiesp) maintained the projection of a 0.5% drop for 2023. According to the entity, the assessment is based on the high interest rate.
Industrial production increased 0.3% from April to May, 0.1% more than expected by Fiesp. In the interval of one year, the growth was 1.9%. The projection considers, however, a reduction of 0.4% in the sector in the first five months of 2023 compared to the same period last year. The index was 1.5% below that recorded in February 2020, before the covid-19 pandemic.
The permanence of a “weak picture of dynamism” was also observed by Fiesp in industrial activity. In May 2023, six activities were accelerating and 10 were decelerating. In the same month of 2022, there were two and nine, respectively.
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