Brazil Industrial production November 2020

Brazil

Brazil: Industrial output growth picks up in November

January 8, 2021

Industrial output grew 1.2% in month-on-month seasonally-adjusted terms in November, an uptick from October's 1.1% increase. November's upturn was primarily driven by rebounding intermediate goods production and a pick-up in consumer goods output. Lastly, both durable and non-durable consumer goods production accelerated.

On an annual basis, factory output increased 2.8% in November, notably above October’s 0.3% expansion. Accordingly, the trend improved, with the annual average variation of industrial production coming in at minus 5.2% in November, up from October's minus 5.6%.

FocusEconomics LatinFocus Consensus Forecast panelists see industrial production expanding 4.9% in 2021, which is down 1.2 percentage points from last month's estimate. In 2022, industrial output is projected to grow 3.4%.


Author:, Economist

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Brazil Industrial production Chart


Brazil Industry November 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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