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Industrial production in Brazil increases 3.2 pct in August

Christian Fernsby ▼ | October 3, 2020
Brazilian industry production grew 3.2 percent in August compared to July, the fourth consecutive rise after the economic effects of the coronavirus pandemic were first felt in the country, the Brazilian Institute of Geography and Statistics (IBGE) reported on Friday.
Brazil factory
Increases   Brazil factory
However, according to the report, this increase has failed to reverse the 27 percent loss that the sector registered between March and April, which brought it to the lowest historical level.

Topics: Brazil

Production growth increased in August compared to July in all major economic categories and in 16 of the 26 sectors analyzed.

Additionally, Brazilian industry as a whole created 92,800 new formal jobs in August, according to the Ministry of Economy.

Despite gradual industrial recovery, the Brazilian economy is projected to close the year with a contraction of 5.04 percent.


 

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