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Friday, February 08, 2008

Brazil Industrial Output December 2007

Brazil's industrial production in 2007 expanded at the fastest pace in three years, fueled by domestic demand and investments to boost production. Output rose 6.4 percent in December from December 2006, pushing the annual rate for 2007 up 6 percent, twice the pace of 2006, the national statistic agency said in a statement distributed today in Rio e Janeiro. In 2004, output grew 8.3 percent.

Brazil's unemployment rate fell in December fell to the lowest since at least 2002 as companies added staff to step up output. More jobs coupled with record bank lending boosted consumption and spurred investments. Output of capital goods, which increased 19.5 percent in 2007, led industrial growth. Production of durable goods, the second best performer, rose 9.2 percent.

Brazil's central bank has kept the benchmark interest rate at 11.25 percent since September and the possibility of rate increases in 2008 to keep inflation under control remains.

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