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Brazilian industry has been sending some mixed signals. Output has increased for three months in a row, the PMI index — a closely watched gauge of the health of manufacturers — has been up over the past four months, confidence levels in the economy are creeping up, and the sector added 122,400 jobs in the first quarter.
Still, the sector remains below pre-pandemic levels, and a solid comeback doesn’t appear to be on the horizon.
While Covid has made things tougher for factories, the virus isn’t the only factor; Industry has been losing relevance in the Brazilian economy for at…
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