Brazil’s industrial output rises less than expected in August

Industrial production in Brazil rose slightly less than expected in August, data from government statistics agency IBGE showed on Tuesday, as the sector struggles to gather speed amid high interest rates. Output was up 0.4% in August from July, IBGE said, recovering part of the losses seen a month earlier but below forecasts as the median estimate in a Reuters poll projected an increase of 0.5%. Industry has been stuttering in Brazil this year, alternating between gains and losses as restrictive monetary policy to tame high inflation hurts consumption and investment decisions, IBGE's research manager Andre Macedo said.