Brazil: Industrial output growth moderates in August
October 2, 2020
Industrial output expanded 3.2% month-on-month in seasonally-adjusted terms in August, a more moderate expansion than July’s 8.3% increase and slightly below market analysts’ expectations of a 3.4% rise.
Looking at the details of the release, August's reading largely reflected a softer expansion in intermediate goods production. Moreover, durable and non-durable consumer goods output also lost pace compared to the previous month.
On an annual basis, industrial output fell 2.7% in August, following July’s 2.8% contraction. Moreover, the trend pointed down, with the annual average variation of industrial production coming in at minus 5.8% (July: -5.7%).
Author: Hanna Andersson, Economist