Brazil Industrial Production up 1.2 percent in August vs July

Industrial production in Brazil rose in August by 1.2 percent from July, seasonally adjusted, the eighth consecutive month of monthly gain, said Friday the Brazilian Institute of Geography and Statistics (IBGE).
The market was waiting for a production increase of 0.8 percent, according to the median forecast of 20 analysts polled by Reuters. Forecasts ranged from 0.2 percent reduction and a 1.8 percent expansion.
Faced with the same month of 2008, Brazilian industrial production in August shrank 7.2 percent.
The fall was smaller than the 7.5 percent resulted from the median forecast of 27 analysts in comparison ineranual, which varied between 6.2 and 9.1 percent shrinkage.