Brazil Industrial production November 2021

Brazil

Brazil: Industrial activity contracts slightly in November

January 6, 2022

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%.

FocusEconomics LatinFocus Consensus Forecast panelists see industrial production expanding 0.7% in 2022, which is down 0.5 percentage points from last month's estimate. In 2023, industrial output is projected to grow 2.6%.


Author:, Economist

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Brazil Industry November 2021

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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