Brazil Industry


Industrial production growth accelerates in April

In April, industrial production expanded 1.8% over the previous month on a seasonally adjusted basis. The result was above the 0.8% increase observed in March (previously reported: +0.7% month-on-month) and overshot the 1.0% rise expected by the market. In annual terms, industrial production expanded 8.4% in April (March: -3.6% year-on-year), which represents the strongest gain in almost three years.

17 out of the 27 categories surveyed by the Brazilian Institute of Geography and Statistics (IBGE) registered an increase in output. The largest expansion was observed in capital goods as well as in consumer goods.

As a result of the increase in April, annual average growth in industrial production stepped up from minus 1.9% in March to minus 1.0% in April. LatinFocus Consensus Forecast participants see industrial production expanding 2.9% in 2013, which is down 0.2 percentage points from last month's estimate. In 2014, industrial output is expected to rise 3.5%.


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Brazil Industry Chart

Brazil Industry April 2013

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.

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