Brazil Industrial production August 2020

Brazil

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%).

FocusEconomics LatinFocus Consensus Forecast panelists see industrial production declining 8.1% in 2020, which is up 1.7 percentage points from last month's estimate. In 2021, industrial output is projected to grow 5.9%, which is up 0.1 percentage points from last month’s estimate.


Author:, Economist

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Brazil Industry August 20 20

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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