Brazil Industrial production October 2022

Brazil

Brazil: Industrial output bounces back in October

December 1, 2022

Industrial output grew 0.3% in month-on-month seasonally-adjusted terms in October, which contrasted September's 0.7% decrease. The pickup was largely driven by improvements in intermediate, non-durable and consumer goods.

On an annual basis, industrial output rose at a quicker rate of 1.7% in October (September: +0.4% yoy). Moreover, the trend improved significantly, with the annual average variation of industrial production coming in at minus 1.6%, up from September's minus 2.2%.

The analysts surveyed by FocusEconomics for this month’s LatinFocus Consensus Forecast see industrial production increasing 0.8% in 2023, which is down 0.1 percentage points from last month's estimate, and growing 2.1% in 2024.


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Brazil Industrial production Chart


Brazil Industry October 2022

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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