Brazil: Industrial activity decreases in April
June 2, 2021
Industrial output decreased 1.3% in month-on-month seasonally-adjusted terms in April, a softer fall than March's 2.2%. Looking at the details of the release, intermediate goods output shrank in April, while consumer goods output dropped at a more moderate pace. Lastly, durable consumer goods output rebounded in April, while non-durable consumer goods production contracted at a softer pace than in the prior month.
On an annual basis, industrial production grew 34.7% in April, which was significantly better than March’s 10.5% expansion and marking the best result since April 1991. That said, the print was flattered by a low base effect. Moreover, the trend improved sizably, with the annual average variation of industrial production coming in at plus 2.3% in April, contrasting March's minus 2.9%.
Author: Hanna Andersson, Economist