Industrial production increased 2.3%, 1st annual high.
Industrial production in Brazil in October was the first annual increase in more than a year, according to the IBGE (Brazilian Institute of Geography and Statistics). Compared to the same month last year, industrial production rose 2.3%, the first high annually since August 2011. Compared to September, the increase was 0.9%. IBGE revised its September quarter results. Compared to August, the sector fell by 0.6%. Already on September 2011, it fell by 3.6%. The previous records were -1% and -3.8%, respectively. In the first ten months of the year, the index is down 2.9%. In the last 12 months, the decline recorded in October is 2.7%. Most of this increase is sustained by the Automotive sector, which accounts for over a fifth of gross domestic product (GDP) of the country Industrial. (read more).
______________________________________________________________________________________"For God hath not given us the spirit of fear, but of power and of love and balance." 2 Timothy 1:7
