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Brazil Industrial production December 2022

Brazil: Industrial output remains unchanged in December

Industrial output flatlined in month-on-month seasonally adjusted terms in December (November: -0.1% mom). Looking at the details of the release, December’s outturn was chiefly due to intermediate goods production contracting. This offset consumer goods output and durable and non-durable consumer goods production gaining steam.

On an annual basis, industrial output dropped 1.3% in December, contrasting November’s 0.9% expansion and marking the worst result since March. Still, the trend improved, with the annual average variation of industrial production coming in at minus 0.7%, up from November’s minus 0.9%.

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