Brazil industrial output falls 6.2%

Brazil's industrial output dropped 6.2 per cent in November year-on-year, the biggest drop since December 2001, indicating a far faster economic slowdown than was expected even weeks ago.

The dire numbers are just the latest in a string of data that have led economists to trim gross domestic product forecasts repeatedly, with the latest survey by the central bank pointing to growth of just 2.4 per cent this year, down from 4.5 per cent budgeted in November.

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