Brazil: Industrial output growth softens in July
September 3, 2020
Industrial output increased 8.0% month-on-month in seasonally-adjusted terms in July, a softer expansion than June’s 9.7% rise. That said, it beat market analysts’ expectations of a 5.7% increase.
Looking at the details of the release, consumer goods output expanded at a softer pace in July, while intermediate goods output gained traction. Meanwhile, durable and non-durable consumer goods output both moderated.
On an annual basis, industrial output dropped 3.0% in July, a smaller decrease than June’s 8.7% fall and marking the best result since February.
Author: Hanna Andersson, Economist