Brazil Industry Grows Slowly Due to Strong Brazilian Currency

    A Brazilian worker

    A Brazilian worker A monthly study by the Federation of Industries of the State of São Paulo (Fiesp) and by the Center of Industries of the State of São Paulo (Ciesp), considering seasonal changes – a procedure that permits elimination of oscillations characteristic of certain periods – reveals that the level of industrial activity in the state of São Paulo in August was 0.0% (stability).

    Without the seasonal modification, the Level of Activity Index was 4.5%. In the year to date, the industry of the state of São Paulo accumulates growth of 4.9%.

    To Antonio Correa de Lacerda, director of the Ciesp economic department, the result shows slight improvement, but the industrial sector is still losing opportunities.

    "Industry is still growing around 5%, but is not, for example, accompanying the growth of trade, 9%. It is not due to lack of competitiveness, but to the unfavorable environment due to the appreciation of the Brazilian currency, the real, which is favoring imports."

    According to Paulo Francini, director of the Research and Economic Studies Department (Depecon) at the Fiesp, transformation industry is growing fast. "The result is good when compared to last year and industry has been showing that there is space in its productive capacity."

    The textile sector Level of Activity Index presented growth in August. When compared to July, the result considering the seasonal adjustment was 0.6%. When comparing the first eight months of this year to the first eight months of last year, the variation was 4.6%.

    In the chemical, petrochemical and pharmaceutical sector, the variation in August was 1%. Between January and August 2007, in comparison with the same eight months last year, the sector grew 6.7%.

    The negative performance in the month of August was for the vehicle sector, which registered a reduction of 6.9%. In 2007, from January to August, the result has also been negative (a 1.1% drop) when compared to the same period in 2006.

    CNI

    Tags:

    • Show Comments (1)

    • ch.c.

      Quite different stats…..than those…..
      ….provided by your Filthy Government.

    Your email address will not be published. Required fields are marked *

    comment *

    • name *

    • email *

    • website *

    This site uses Akismet to reduce spam. Learn how your comment data is processed.

    Ads

    You May Also Like

    Chief Surui

    Brazilian Tribe Might Benefit from REDD, Now Being Debated in Copenhagen

    A vulnerable Brazilian tribe in the Amazon region owns carbon-trading rights in future global ...

    Tomorrow, Deadline for Foreigners Interested in Brazilian College Scholarships

    Foreign students interested in attending Brazilian universities have until tomorrow, July 12, to apply ...

    TAM and LAN

    Brazil-Chile: TAM-LAN Merge Creates Largest Air Carrier in the Region

    The merge of two major South American airlines will create the biggest carrier in ...

    Brazil’s BNDES Loans Over US$ 8 Billion

    The Brazilian Development Bank (BNDES) spent US$ 8.4 billion in loans in the first ...

    Brazilian soccer player celebrates goal

    My Brazilian Dream Comes True But for a Little Detail

    After tiring of the Brazilian social problems, I woke up to the fact that ...

    Afrobrazilianists: Such Arrogance!

    Brazilian progressive blacks are doing what they can to allow us to reach the ...

    Legacy’s Black Box Shows Brazil’s Control Tower Made a Mistake

    Transcripts from the Legacy’s black box reveal that the São José dos Campos, São ...

    Invasion of Brazilian Congress Caused US$ 45,000 in Damages

    It is estimated that the damage caused by the members of the Movement for ...

    Marinotti

    Brazilian Scientist Develops in California Technique to Reduce Dengue Mosquitoes

    A method developed by a Brazilian researcher at the University of California, Irvine, Dr ...

    Brazil Market Back on the Up Track

    Latin American markets gained ground, led by Brazilian stocks, amid optimism about the local ...