In January, industrial production dropped a seasonally adjusted 2.1% over the previous month. The decline contrasted the 0.5% rise observed in December (previously reported: +0.9% month-on-month) and exceeded market expectations of a 0.8% decrease. In fact, the print marked the sharpest monthly contraction since December 2008. Compared with the same period of 2011, industrial output fell 3.4% in January (December: -1.3% year-on-year). Of the 27 categories surveyed by the Brazilian Institute of Geography and Statistics (IBGE), 14 categories registered a fall in output. The largest decline was observed in capital goods, followed by intermediate goods. The trend continues to point downwards, with annual average growth in industrial production swinging from plus 0.3% in December to minus 0.2% in January.
Industrial production declines most in three years in January
March 7, 2012
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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.