Brazil March industry sales rise 4.34 pct - CNI
Reuters, Tuesday, May 11, 1999 at 13:54
BRASILIA, May 11 (Reuters) - Brazilian industry sales rose
a seasonally adjusted 4.34 percent in March compared with the
previous month, the National Industry Confederation (CNI) said
Tuesday.
Manufacturing employment eased 0.74 percent in the same
period, but was down 7.07 percent from March 1998, the CNI said
in a statement.
Unemployment has steadily increased as Brazil wallows in
recession. However, the government now expects output will
shrink 2 percent in 1999, lower than initial forecasts of a
3.5-4 percent contraction in gross domestic product.
Reinforcing signs that the economic slowdown may be less
dramatic than expected, industrial sales rose for the first
time in six months in March, the CNI noted.
But industrial sales were still 1.84 percent lower than in
the same month last year, it added.
Brazilian industry used 77.3 percent of installed capacity
in March, up from 76.1 percent in February.
Copyright 1999, Reuters News Service
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