Brazil's Industrial Production Falls for Second Consecutive Month

Investing.com -- Brazil's industrial sector has experienced a decline in production for the second consecutive month. This trend indicates that tight financial conditions are impacting the sector, which is largely reliant on credit. This development comes at a time when the country's central bank plans to further increase interest rates.

In November, production fell by 0.6% compared to the previous month. This figure is slightly better than the 0.7% decrease forecasted by analysts in a Bloomberg poll. Despite the monthly decline, the industrial sector recorded a 1.7% increase in production compared to the same month last year. This data is based on a report released by the national statistics agency on Wednesday.