SAO PAULO, March 11 (Reuters) - Industrial production in Brazil rose 2.9 percent in January from December, government statistics agency IBGE said on Tuesday.
Production had been expected to rise 2.5 percent, according to the median estimate of 31 analysts in a Reuters survey. Forecasts for the increase ranged from 1 percent to 3.2 percent.
January’s industrial production shrank 2.4 percent from a year earlier, while the median estimate in the Reuters survey pointed to a 3.4 percent drop. Estimates for the decline ranged from 1.5 percent to 5 percent.