Brazil Industrial production July 2022

Brazil

Brazil: Industrial output records quickest growth in five months in July

September 2, 2022

Industrial output increased 0.6% month-on-month in seasonally-adjusted terms in July (June: -0.3% mom). July's print marked the best reading since February. The turnaround was partly due to a notable rebound in intermediate goods production. In addition, consumer goods production picked up pace. Lastly, durable consumer goods production also gained pace.

On an annual basis, industrial output fell 0.5% in July, matching June’s fall. As such, annual average variation of industrial production was 2.9% in July, matching June's figure.

FocusEconomics LatinFocus Consensus Forecast panelists see industrial production expanding 0.3% in 2022, which is up 0.2 percentage points from last month's estimate. In 2023, industrial output is projected to grow 1.0%.


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Brazil Industrial production Chart


Brazil Industry July 2022 0

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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