The Brazilian auto industry has emerged as the leader in the nation’s drive for a consistent economic recovery after two years of recession, according to figures released Thursday by the National Motor Vehicle Manufacturers Association (Anfavea). The figures showed first-half 2017 production of 1.263 million motor vehicles, up 23.3% against the first six months of 2016. Domestic sales rose 3.7% to 1.019 million in the first half of this year while exports weighed in with a spectacular 57.2% advance to 372,600 units, Anfavea said. Gains in the domestic market are coming in the wake of a sharp drop in interest rates amid increasingly tame inflation. Meanwhile, although unemployment remains high, average salaries are finally rising after two years of stagnation. A robust agricultural sector has led to sharp in creases in domestic sales of farm equipment. The export market is being stimulated by a weaker Brazilian Real and by a series of trade accords, covering autos and auto parts, with neighboring countries.
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