Brazil: Industrial Output Growth Slows

Brazil’s industrial production expanded at the slowest pace in five months in February as rising interest rates curbed demand. Industrial output rose 4.4 percent from the year-earlier period after increasing 6 percent in January. The slowdown indicates the pace of economic growth is easing, which may take pressure off the central bank to keep boosting the benchmark lending rate. Central bankers have raised the benchmark overnight rate seven times since September, leaving it at a 17-month high of 19.25 percent.