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%.
Author: Hanna Andersson, Economist