By Jeffrey T. Lewis
SAO PAULO--Brazil's industrial production declined in August as output of food and production by extractive industries such as oil and mining declined.
Production fell a seasonally adjusted 0.6% in August and rose 2.8% from a year earlier, the Brazilian Institute of Geography and Statistics, or IBGE, said Wednesday. In July, production rose 0.6% in the month and shrank a revised 0.4% from a year earlier.
The fall in production in August erased the gain of the same size the previous month, with the decline concentrated in eight of the 26 categories measured. The biggest fall from the previous month was in the petroleum products and biofuels segment, which showed a decline of 4.2% from July, though it could be just a temporary impact, the IBGE said.
"This activity, in longer comparisons, shows positive behavior. In other words, this August drop behavior is something more of a one-off," explains the researcher.
Food production declined 2.6% in the month, after three months of increase, the statistics agency said. Among the 18 categories that showed growth, the biggest increases were in motor vehicles, up 10.8%, and machinery and equipment, with growth of 12.4% in the month.
(END) Dow Jones Newswires
10-05-22 0836ET
