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Brazil's industrial output down 8.3 percent in 2015, automotive sector hit hardest

Xinhua, February 3, 2016 Adjust font size:

Brazil's industrial output fell 8.3 percent in 2015 year on year, the country's official statistics agency IBGE announced Tuesday.

According to the IBGE, the decrease was the sharpest ever recorded since 2003. The Brazilian economy has been mired in recession and rising inflation, with political crisis adding to the instability.

In December, the industrial output fell 0.7 percent compared to November, marking the seventh consecutive monthly decrease in 2015 and a 11.9 percent drop year on year.

The IBGE showed that Brazil's industrial output was 19.5 percent down from record-high production levels seen in June 2013.

However, the automotive sector was the hardest hit with a registered 25.9 percent fall, among which computers and electronics fell 30 percent, machinery and equipment down 14.6 percent, metal products nosediving 11.4 percent, and oil byproducts dropping 5.9 percent, respectively. Endi