In October, industrial production fell a seasonally adjusted 0.6% over the previous month, which was less than the 1.9% decrease in September (previously reported: -2.0% month-on-month). Nevertheless, the decline exceeded market expectations, which had industrial production contracting only 0.2%. Compared with the same period last year, industrial output contracted 2.2% in October, which was larger than the 1.6% decrease in September. Of the 27 categories surveyed by the Brazilian Institute of Geography and Statistics (IBGE), 20 categories registered a decline in output. The largest drop was observed in capital goods (-1.8% mom), followed by consumer goods (-1.6% mom). The trend continues to point downwards, with annual average growth in industrial production falling from 1.6% in September to 1.3% in October.
Industrial production declines for third straight month in October
December 2, 2011
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Brazil Economic News
October 19, 2016
At its 19 October meeting, the Central Bank’s Monetary Policy Committee (COPOM, Comite de Politica Monetaria) decided to cut the benchmark SELIC interest rate for the first time in four years, lowering it from 14.25% to 14.00%.
October 18, 2016
Retail sales (excluding cars and construction) fell 0.6% in August from the previous month in seasonally-adjusted terms.
October 7, 2016
Consumer prices in September increased 0.08% over the previous month, the lowest rise since July 2014.
October 4, 2016
In August, industrial production plunged 3.8% over the previous month in seasonally-adjusted terms, which significantly contrasted the 0.1% expansion recorded in July and marked the worst result since January 2012.
October 3, 2016
The Markit manufacturing Purchasing Managers’ Index (PMI) rose slightly in September, increasing from August’s 45.7 to 46.0.