Brazil: Industrial output contracts in 2012
February 1, 2013
In December, industrial production was flat over the previous month on a seasonally adjusted basis. The result followed the 1.3% decrease observed in November (previously reported: -0.6% month-on-month) but overshot the 0.4% contraction expected by the market. In annual terms, industrial output fell 3.6% in December (November: -1.1% year-on-year).
14 out of the 27 categories surveyed by the Brazilian Institute of Geography and Statistics (IBGE) registered a decrease in output. The largest fall was observed in capital goods, whereas semi- and non-durable goods increased the most over the previous month.
In the full year 2012, industrial output fell 2.7% (2011: +0.5% yoy), despite government's efforts to stimulate production throughout the year.