Brazil Industrial production July 2021

Brazil

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%.

FocusEconomics LatinFocus Consensus Forecast panelists see industrial production expanding 5.8% in 2021, which is unchanged from last month's estimate. In 2022, industrial output is projected to grow 2.5%.


Author:, Economist

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Brazil Industrial production Chart


Brazil Industry July 2021 0

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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