Brazil: Decline in industrial output softens in September
Industrial output decreased 0.4% month-on-month in seasonally-adjusted terms in September (August: -0.7% mom). The softer drop came on the back of an improvement in intermediate goods and consumer goods output. Lastly, durable consumer goods production decreased at a softer rate, while non-durable consumer goods output lost pace.
On an annual basis, factory output fell at a sharper rate of 3.9% in September (August: -0.7% yoy), the steepest contraction since June 2020. Accordingly, the trend pointed down, with the annual average growth of industrial production coming in at plus 6.4% in September, down from August’s 7.2% reading.