Industrial production fell 1.3% in March 2019 compared to February 2019, in the seasonally adjusted series, the Brazilian Institute of Geography and Statistics (IBGE) announced today. Overall, Brazilian industry shrank -2.2% and the first quarter of 2019 closed negative.
Still, in March of 2019, the level of industrial production was 17.6% below the peak of the historical series of the IBGE, which was registered in May 2011, during the Dilma Rousseff government.
To make matters worse, industrial production fell by 6.1% compared to March 2018. The percentage of Brazilian households with debt (in arrears or not) reached 62.4% in March 2019. The index is higher than 61, 5% from February 2019 and 61.2% from March 2018. This scenario of low economic activity in the country greatly limits the companies' indebtedness capacity.
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