IBGE reported today the industrial production statistics for October. In October, industrial production fell by 0.6% compared to September and decreased 2.2% compared to October of last year, as we see in the graphic below. The industrial production is still below the pre-crisis level in 2008. This poor performance is mainly explained by the appreciation of Brazilian real against the dollar, which has favored the entrance of imported goods in detriment of domestic production.
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| Source: IBGE |
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