In March, industrial production decreased a seasonally adjusted 0.5% over the previous month. The fall contrasted both the 1.3% increase observed in February and market expectations of a rise of the same magnitude. Compared to the same period of 2011, industrial output fell for a seventh consecutive month and contracted 2.1% in March (February: -4.0% year-on-year). Of the 27 categories surveyed by the Brazilian Institute of Geography and Statistics (IBGE), 18 categories registered a decrease in output. The largest fall was observed in intermediate goods, followed by semi- and non-durable goods. The trend continues to point downwards, with annual average growth in industrial production inching down from minus 1.0% in February to minus 1.1% in March.
Industrial production falls in March
May 3, 2012
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Brazil Industry Chart
Note: Month-on-month changes of seasonally adjusted industrial production and annual average growth rate in %.
Source: Brazil Institute of Geography and Statistics (IBGE) and FocusEconomics calculations.
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.