Brazil Industrial production October 2021


Brazil: Industrial output remains broadly unchanged in October

December 3, 2021

Industrial production slid 0.6% month-on-month in seasonally-adjusted terms in October (September: -0.6% mom). Sharper declines in production of intermediate goods and consumer goods were counterbalanced by a rebound in capital goods production.

On an annual basis, factory output dropped 7.8% in October, which was notably below September’s 4.0% fall and marked the weakest result since June 2020. Accordingly, the trend pointed down, with the annual average growth of industrial production coming in at plus 5.6% in October, down from September's 6.4%.

FocusEconomics LatinFocus Consensus Forecast panelists see industrial production expanding 1.2% in 2022, which is down 0.8 percentage points from last month's estimate. In 2023, industrial output is projected to grow 2.8%.

Author:, Economist

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Brazil Industrial production Chart

Brazil Industry October 2021

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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