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