Brazil: Industrial activity contracts slightly in November
Industrial output fell 0.2% month-on-month in seasonally-adjusted terms in November (October: -0.6% mom). November’s result marked the best result since May. November’s smaller drop was largely driven by an improvement in intermediate goods output. In addition, consumer goods production rebounded.
On an annual basis, industrial output fell at a more moderate rate of 4.4% in November (October: -7.8% yoy). Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at 5.0% in November, down from October’s 5.6%.