Brazil Industrial production July 2020

Brazil

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.

FocusEconomics LatinFocus Consensus Forecast panelists see industrial production declining 9.8% in 2020, which is up 0.3 percentage points from last month's estimate. In 2021, industrial output is projected to grow 5.8%.


Author:, Economist

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Brazil Industry July 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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