Brazil: Industrial output contracts at sharper pace in July
September 2, 2021
Industrial output decreased 1.3% in month-on-month seasonally-adjusted terms in July, which was a larger contraction than June's 0.2% decrease. The result came on the back of softer capital goods production, which outweighed improved production of intermediate goods, durable consumer goods and non-durable consumer goods.
On an annual basis, factory output rose at a softer pace of 1.2% in July (June: +12.0% yoy), the worst result since February. Meanwhile, the trend improved, with the annual average growth of industrial production coming in at plus 7.0%, up from June's 6.6%.
Author: Stephen Vogado, Economist