Brazilian auto industry production in October showed the first signs of a hoped-for recovery, although sales were still down marginally against the previous month, the National Motor Vehicle Manufacturers Association (Anfavea) said Monday. October production of 174,200 motor vehicles was up 2.3 percent against September, buoyed by exports. However, output was still down 15 percent against October a year ago. Sales were off 0.6 percent against September and 17 percent against October of 2015 at 159,000, Anfavea said. Association spokesmen said they are hoping for an increase in both production and sales in November, with 2017 bringing gains in all areas following four years of retreat. Next year could show improvement over 2016 because of lower interest rates and an expected broad economic recovery in Brazil.
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