Brazil Industry November 2019

Brazil

Brazil: Industrial output declines in November

January 9, 2020

Industrial production fell 1.2% month-on-month in seasonally-adjusted terms in November, contrasting October’s upwardly revised 0.8% increase (previously reported: +0.3% month-on-month). November’s result marked the worst performance in eight months.

The downturn was widespread in November, with contractions recorded in capital goods, intermediate goods and consumer goods output. Among sectors, industrial output fell in 16 of the 26 surveyed, with the main negative contributions stemming from the chemical and machinery and equipment sectors.

On an annual basis, industrial production dropped 1.7% in November, contrasting October’s 1.1% rise. Annual average industrial production declined 1.3% in November, worsening from the 1.2% contraction in October.

FocusEconomics LatinFocus Consensus Forecast panelists see industrial production rising 2.4% in 2020, which is up 0.1 percentage points from last month's estimate. In 2021, industrial output is expected to grow 2.8%.


Author:, Economist

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Brazil Industry November 2019 0

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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