Brazilian industrial production declined in August by 0.8% against the previous month but rose a healthy 4.0% against August of 2016, the Brazilian Census Bureau (IBGE) said Tuesday. The month-on-month decline came after four straight months of gains for an accumulated advance during the period of 3.3%. IBGE economists said the August decline was temporary and will not interfere with a broad tendency toward expansion. The August decline was concentrated in a few categories of consumer goods, while durable goods and capital goods continued to advance, the IBGE noted. Economists are forecasting modest overall growth for the economy this year as inflation and interest rates ease and employment opportunities expand.
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