Brazil Industrial production October 2020

Brazil

Brazil: Industrial production growth cools in October

December 2, 2020

Industrial production increased 1.1% month-on-month in seasonally-adjusted terms in October (September: +2.8% mom), marking the worst reading since April. The slowdown largely reflected a contraction in intermediate goods production. In addition, capital goods output lost pace. Lastly, durable consumer goods production lost traction, while non-durable consumer goods production fell.

On an annual basis, industrial output increased 0.3% in October, a softer expansion than September’s 3.7% rise. Moreover, the trend pointed down, with the annual average variation of industrial production coming in at minus 5.6% in October, down from September's minus 5.5%.

FocusEconomics LatinFocus Consensus Forecast panelists see industrial production expanding 6.1% in 2021, which is up 0.9 percentage points from last month's estimate. In 2022, industrial output is projected to grow 3.7%.


Author:, Economist

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Brazil Industry October 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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