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Industrial Production In Brazil Increased By 3.2% In August

Industrial Production In Brazil Increased By 3.2% In August

Brazil's industrial production rose 3.2% in August from the previous month, according to the Brazilian Institute of geography and statistics IBGE.

"Industrial production increased by 3.2 percent compared to July, but even now the figure has not recovered the 27 percent loss accumulated between March and April," the Institute said.

The level of activity in the Brazilian industry reached a historic low in March-April due to the shutdown of enterprises due to the COVID-19 pandemic.

The current growth by July is due to the recovery of the automotive industry, which added 19.2% after the resumption of the work of factories. Compared to the same period in 2019, the overall decline in industrial production is 2.7%.

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