Brazilian industrial production was down 0.2% in July against the previous month following spectacular gains in June, the Brazilian Census Bureau (IBGE) said Tuesday. June registered a gain of 12.9% following a virtual paralysis of industrial activity in May due to a long truckers’ strike. Economists said the July figure was essentially an adjustment following the roller-coaster ride of May and June. More broadly, industrial output in July was up by a healthy 4% against July of 2017. Economists said the July figure showed Brazil’s modest economic recovery is still on track.
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