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LatinNews Daily - 06 October 2022

In brief: Brazil’s industrial production falls in August

*Brazil’s national statistics institute (Ibge) has released the latest figures on industrial production in Brazil, which fell by 0.6% in August compared to the previous month. The country’s industrial output increased 2.8% year-on-year but posted an accumulated decline of 1.3% from January to August. Ibge’s research manager, André Macedo, pointed out that, despite the monthly decline in August, Brazil’s industrial production has shown improvement in 2022, with positive results in five of the last eight months. He also highlighted that the August drop was very “concentrated”, as “only eight of the 26 sectors surveyed posted negative readings”. By sector, the most significant monthly increases in production were in motor vehicles, trailers & car bodies (10.8%), machinery & equipment (12.4%), and other chemical products (9.4%). The declines that had the greatest impact on the index were: coke, petroleum & biofuels (-4.2%); extractive industries (-3.6%); and food products (-2.6%).

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