Brazil Kicks Off Third Quarter With Drop in Industrial Output

(Bloomberg) -- Brazil’s industrial output dropped more than expected at the start of the third quarter, indicating a down-shift in Latin America’s largest economy as borrowing costs remain high.

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Production contracted 1.4% in July from the month prior, more than the -1% median forecast in a Bloomberg survey of analysts. From a year earlier, industry increased 6.1%, the national statistics agency reported on Wednesday.

--With assistance from Giovanna Serafim.

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