Brazil’s industrial production rose for the fourth month in a row in July, advancing 0.8% against June, the Brazilian Census Bureau (IBGE) said Tuesday. Production was up by a healthy 2.5% against July of 2016. Growth was led by big-ticket items such as durable consumer goods and by capital goods, an indicator of rising business investment. IBGE economists said the figures are an indication that Brazil’s economic recovery is gaining momentum. Tame inflation and lower interest rates could help sustain the recovery, they added. Brazil’s Central Bank is widely expected to order another cut in the nation’s base interest rate at a meeting Wednesday.
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