Brazilian industrial production declined by 0.1% in March against the previous month, reversing a 0.1% rise in February and leaving output virtually flat for the first quarter of the year, the Brazilian Census Bureau (IBGE) said Thursday. Production in March was up by a weak 1.3% against March of 2017. Economists said the setback was unexpected and may cause them to reduce expectations for 2018 growth. Brazil’s economy is set for a recovery this year on lower interest rates and declining consumer debt. However, job uncertainties and a clouded political landscape are leading to consumer and business caution, according to economists.
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