Rio, 8/7/2003 (Agência Brasil - ABr) - Brazilian industrial production fell 2.6% in June, compared to May, and was down 2.1%, compared to June 2002. reports the Brazilian Institute of Geography and Statistics (IBGE) (the government statistical bureau). Its latest monthly survey shows that industrial output is at its lowest level since December 2001.

The IBGE survey shows that although there was industrial growth in the first quarter of this year (up 2.5%), it fell 2.1% in the second quarter. The reasons cited for the decline were high interest rates, low salaries and rising unemployment. (AB)