In October, industrial production rose 0.4% over the previous month in seasonally adjusted terms. The expansion followed on two broadly flat readings but was softer than the 0.6% rise expected by the market. Industrial output appears to have left the slowdown behind with a solid monthly expansion in the first month of the fourth quarter, suggesting that the third quarter moderation was temporary. On an annual basis, growth in industrial output weakened and registered a paltry 2.1% rise in October (September: +6.3% year-on-year). The monthly expansion reflects an improvement in the production of durable goods (+2.8% month-on-month), such as vehicles (+1.6% mom). On the other hand, capital goods output continued to moderate (-0.2% mom). The moderation points to a deceleration in investment growth during the fourth quarter. Despite the dismal October reading, the trend continues to point upwards, with the annual average growth rate inching up from 11.2% in September to 11.8% in October, which is broadly in line with the Consensus Forecast of an 11.6% increase for 2010. In 2011, the panel expects industrial output growth to moderate to 5.2%.
Industrial production rebounds in October
December 2, 2010
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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.