Brazil March industrial confidence at seven-month low, hammered by COVID
- Wall Street ends week positively; S&P 500, Dow hit record highs
- Bitcoin (BTC) Drops 3% as Turkey Bans Cryptocurrency Payments Citing Lack of Regulatory Supervision
- Morgan Stanley (MS) Archegos-Related Loss Appears to be $911M
- Dollar at 4-week low on retreating Treasury yields
FILE PHOTO: Employees fill boxes with ethanol-based hand sanitizers in AGE do Brasil factory, hired by brewing Ambev to produce hand sanitizers to donate to public hospitals during the coronavirus disease (COVID-19) outbreak in Vinhedo, Brazil, March 25,
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
BRASILIA (Reuters) - Brazilian industrial confidence fell in March for a third month to its lowest since last August, a survey showed on Friday, as a second COVID-19 wave triggers new lockdown measures in many states.
The Fundacao Getulio Vargas's national industrial confidence index for March fell 3.7 points to a seasonally adjusted 104.2 from 107.9 in February.
That is the lowest since August 2020, and a further slip from December's 10-year high.
The central bank on Thursday revised up its 2021 outlook for the sector in its quarterly inflation report. It now expects industrial production to grow 6.4% this year, up from 5.1% in its last report.
The main driver will be manufacturing, which it expects to expand by 9.8% this year compared with its last forecast of 6.1%. That would more than make up for downwardly-revised growth in the civil construction and power sectors, the central bank said.
(Reporting by Jamie McGeever; Editing by Andrew Cawthorne)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Guatemala blocks travel from Brazil, UK and South Africa in new COVID measure
- China's vice premier, U.S. climate envoy Kerry discuss climate cooperation: Xinhua
- Exclusive: Brazil needs $10 billion a year in aid for carbon neutrality by 2050, minister says