Rio Grande do Sul: signs of new growth
11/05/2009
Brazil’s main footwear-producing state, Rio Grande do Sul, has recorded its lowest figure for industrial output almost 20 years.
The state authorities have calculated that the downturn in output from its most important industry sectors over the last quarter of 2008 and the first of 2009 is the worst Rio Grande do Sul has experienced since the second quarter of 1990.
Over the first three months of 2009, leather and footwear production in the state fell by 9.4% compared to the same period last year.
However, the state minister for the economy, Guido Mantega, said: “Everyone was expecting these results, but from March and April onwards, our economy started recovering. Growth has already begun again; the situation is improving considerably.”
Share this story:
