An employee works at the company Gree in Manaus, in the state of Amazonas, Brazil on May 6, 2016. (Xinhua/Str)
Brazilian industry's installed production capacity (IPC) reached 70 percent in October, its highest level in almost five years, the National Confederation of Industry (CNI) announced on Friday.
RIO DE JANEIRO, Nov. 22 (Xinhua) -- Brazilian industry's installed production capacity (IPC) reached 70 percent in October, its highest level in almost five years, the National Confederation of Industry (CNI) announced on Friday.
A dog stops in front of a butcher shop in Sao Paulo, Brazil, on March 20, 2017. (Xinhua/Luciano Claudino/Codigo19/AGENCIA ESTADO)
The IPC went up from 69 percent in September to 70 percent last month, said the CNI, the official organization representing Brazilian industries, adding that "last time the IPC reached over 70 percent was in November 2014."
"The recovery of industrial activity is in line with the improvement of the general economic atmosphere, with interest rates at their lowest historical levels and inflation under control, as well as the approval of social security reform and the gradual recovery of the labor market. All this contributed to reactivating consumption," the CNI said.
A cyclist passes by cars for sale in front of an auto dealership in Sao Paulo, Brazil, Jan 7, 2016. (Xinhua/Rahel Patrasso)
"Greater installed production capacity is fundamental for the acceleration and continuity of the Brazilian economy's recovery, as it stimulates new hirings and investments," the CNI added.
