The Brazilian industry recorded production losses in 11 of the 26 activities surveyed from June to July, according to the Monthly Industrial Survey data released by the Brazilian Institute of Geography and Statistics (IBGE). In the global average, production fell 0.3%, the third month followed by a negative result, accumulating a loss of 1.2% in the period. Compared to July 2018, Brazilian industrial production fell 2.50%.
The drop in Brazilian industrial production indicates that the country entered the third quarter of 2019 in a bad scenario, as the accumulated industrial production of 2019 is negative: -1.7%. The scenario is therefore very difficult for the Brazilian economy. Brazilian economic activity is expected to remain very weak in 2019.
Meanwhile, yesterday the US currency rose 0.98% in Brazil and reached its highest rate since the historic record almost 1 year ago: R$ 4.1822. In Brazil, in August, the dollar rose 8.46%. Brazil lost only to Argentina, where the US currency rose 35.80% in the same period.
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